Ladenburg Thalmann cut shares of Myriad Genetics Inc. (NASDAQ:MYGN) from a neutral rating to a sell rating in a research report released on Monday. Ladenburg Thalmann currently has $16.00 target price on the stock.
Other equities analysts also recently issued reports about the company. Barclays PLC downgraded Myriad Genetics from an overweight rating to an equal weight rating and decreased their target price for the company from $50.00 to $24.00 in a research note on Wednesday, August 10th. Stephens set a $30.00 target price on Myriad Genetics and gave the company a buy rating in a research note on Thursday, August 11th. Gabelli downgraded Myriad Genetics from a buy rating to a hold rating and decreased their target price for the company from $46.00 to $32.00 in a research note on Wednesday, August 10th. Piper Jaffray Cos. downgraded Myriad Genetics from an overweight rating to a neutral rating and decreased their target price for the company from $47.00 to $22.00 in a research note on Wednesday, August 10th. Finally, Jefferies Group decreased their target price on Myriad Genetics from $34.00 to $20.00 and set a hold rating for the company in a research note on Thursday, August 11th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $31.00.
Myriad Genetics (NASDAQ:MYGN) opened at 18.62 on Monday. The company has a 50-day moving average price of $20.72 and a 200 day moving average price of $29.61. The stock has a market capitalization of $1.29 billion, a P/E ratio of 10.89 and a beta of 0.54. Myriad Genetics has a 1-year low of $17.66 and a 1-year high of $46.24.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Myriad Genetics will post $1.07 EPS for the current year.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the sale, the director now directly owns 49,493 shares of the company’s stock, valued at $1,014,111.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Christopher Capone acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were purchased at an average cost of $21.24 per share, for a total transaction of $212,400.00. Following the completion of the purchase, the insider now directly owns 146,026 shares of the company’s stock, valued at approximately $3,101,592.24. The disclosure for this purchase can be found here. Company insiders own 5.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Motley Fool Wealth Management LLC boosted its stake in Myriad Genetics by 9.4% in the first quarter. Motley Fool Wealth Management LLC now owns 74,419 shares of the company’s stock valued at $2,786,000 after buying an additional 6,402 shares during the period. Huntington Asset Advisors Inc. bought a new stake in Myriad Genetics during the first quarter valued at approximately $412,000. C M Bidwell & Associates Ltd. bought a new stake in Myriad Genetics during the first quarter valued at approximately $148,000. Bessemer Group Inc. bought a new stake in Myriad Genetics during the first quarter valued at approximately $4,965,000. Finally, Acrospire Investment Management LLC bought a new stake in Myriad Genetics during the first quarter valued at approximately $109,000.
About Myriad Genetics
Myriad Genetics, Inc (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics, which provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing, or assess a patient’s risk of disease progression and disease recurrence, and other, which provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients.
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