ValuEngine upgraded shares of Myriad Genetics, Inc. (NASDAQ:MYGN) from a hold rating to a buy rating in a research report released on Friday.
Other analysts also recently issued reports about the company. BidaskClub downgraded Myriad Genetics from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Myriad Genetics from a hold rating to a buy rating and set a $28.00 price objective for the company in a research report on Monday, July 17th. Barclays PLC dropped their price objective on Myriad Genetics from $28.00 to $26.00 and set an equal weight rating for the company in a research report on Wednesday, August 9th. Jefferies Group LLC restated a hold rating and set a $23.00 price objective (up from $21.00) on shares of Myriad Genetics in a research report on Thursday, August 10th. Finally, Cowen and Company restated a hold rating and set a $25.00 price objective on shares of Myriad Genetics in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $28.10.
Shares of Myriad Genetics (NASDAQ MYGN) traded up $0.46 during mid-day trading on Friday, hitting $31.55. The company had a trading volume of 812,200 shares, compared to its average volume of 1,217,123. The company has a current ratio of 2.34, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. Myriad Genetics has a twelve month low of $15.15 and a twelve month high of $37.30. The company has a market cap of $2,184.55, a P/E ratio of 28.94, a P/E/G ratio of 2.03 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. During the same period in the prior year, the company earned $0.23 EPS. Myriad Genetics’s revenue for the quarter was up 7.2% on a year-over-year basis. analysts anticipate that Myriad Genetics will post 1.04 EPS for the current year.
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In other news, Director John T. Henderson sold 30,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the sale, the director now owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.70% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after buying an additional 9,536,219 shares during the period. Vanguard Group Inc. increased its stake in shares of Myriad Genetics by 0.9% in the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after buying an additional 56,708 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Myriad Genetics by 29.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,430,216 shares of the company’s stock valued at $88,636,000 after buying an additional 787,396 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Myriad Genetics by 7,026.7% in the second quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after buying an additional 2,703,860 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Myriad Genetics by 31.1% in the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after buying an additional 306,276 shares during the period.
Myriad Genetics Company Profile
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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