Several other research analysts also recently issued reports on MYGN. Piper Jaffray Companies set a $21.00 price objective on Myriad Genetics and gave the stock a hold rating in a report on Sunday, December 25th. Stephens raised Myriad Genetics from an equal weight rating to an overweight rating and set a $20.00 price target on the stock in a research note on Monday, March 13th. Barclays PLC reissued an equal weight rating and issued a $22.00 price target on shares of Myriad Genetics in a research note on Tuesday, December 27th. TheStreet raised Myriad Genetics from a d+ rating to a c rating in a research note on Wednesday, March 1st. Finally, Ladenburg Thalmann Financial Services raised Myriad Genetics from a sell rating to a neutral rating in a research note on Wednesday, February 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $25.92.
Shares of Myriad Genetics (NASDAQ:MYGN) traded up 0.62% on Friday, hitting $19.50. The stock had a trading volume of 80,440 shares. The company has a market capitalization of $1.33 billion, a P/E ratio of 22.03 and a beta of 0.26. The firm has a 50 day moving average price of $18.36 and a 200 day moving average price of $18.30. Myriad Genetics has a one year low of $15.15 and a one year high of $39.74.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Myriad Genetics had a return on equity of 12.02% and a net margin of 8.08%. The firm had revenue of $196.50 million for the quarter, compared to the consensus estimate of $189.72 million. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Myriad Genetics will post $0.99 earnings per share for the current fiscal year.
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In other news, Director John T. Henderson bought 6,000 shares of the stock in a transaction on Thursday, February 23rd. The stock was purchased at an average price of $18.66 per share, for a total transaction of $111,960.00. Following the acquisition, the director now owns 38,524 shares in the company, valued at $718,857.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Camber Capital Management LLC purchased a new position in Myriad Genetics during the fourth quarter worth about $67,680,000. Scopia Capital Management LP purchased a new position in Myriad Genetics during the third quarter worth about $75,316,000. State Street Corp boosted its position in Myriad Genetics by 15.8% in the fourth quarter. State Street Corp now owns 3,589,079 shares of the company’s stock worth $59,836,000 after buying an additional 488,484 shares during the period. Frontier Capital Management Co. LLC boosted its position in Myriad Genetics by 25.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,034,522 shares of the company’s stock worth $50,585,000 after buying an additional 606,897 shares during the period. Finally, BlackRock Fund Advisors boosted its position in Myriad Genetics by 4.8% in the third quarter. BlackRock Fund Advisors now owns 2,790,235 shares of the company’s stock worth $57,423,000 after buying an additional 127,246 shares during the period.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment 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 to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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