Myriad Genetics (NASDAQ:MYGN) had its target price boosted by equities research analysts at Leerink Swann from $33.00 to $35.00 in a report released on Wednesday, February 7th. The brokerage currently has a “market perform” rating on the stock. Leerink Swann’s target price would indicate a potential upside of 6.67% from the stock’s current price. Leerink Swann also issued estimates for Myriad Genetics’ Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $1.14 EPS, Q1 2019 earnings at $0.29 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.33 EPS and FY2019 earnings at $1.20 EPS.
Other research analysts have also issued reports about the company. BidaskClub upgraded Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 20th. Morgan Stanley lifted their target price on Myriad Genetics from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th. Deutsche Bank lifted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. ValuEngine lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Stephens set a $45.00 price target on Myriad Genetics and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Myriad Genetics currently has a consensus rating of “Hold” and an average price target of $31.42.
Myriad Genetics (NASDAQ MYGN) traded down $0.57 during mid-day trading on Wednesday, reaching $32.81. The company had a trading volume of 942,281 shares, compared to its average volume of 822,242. The firm has a market cap of $2,290.00, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.32 and a beta of 0.32. Myriad Genetics has a 12-month low of $17.09 and a 12-month high of $41.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.05 and a quick ratio of 1.81.
Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, February 6th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The company had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $188.72 million. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. equities research analysts forecast that Myriad Genetics will post 1.15 earnings per share for the current year.
In related news, VP Gary A. King sold 3,120 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $38.12, for a total value of $118,934.40. Following the completion of the sale, the vice president now directly owns 125,088 shares in the company, valued at $4,768,354.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Walter Phd Gilbert sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $33.19, for a total value of $248,925.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,033 shares of company stock valued at $2,583,197. Corporate insiders own 6.70% of the company’s stock.
Several large investors have recently made changes to their positions in MYGN. Ameriprise Financial Inc. increased its holdings in Myriad Genetics by 14.6% in the second quarter. Ameriprise Financial Inc. now owns 417,388 shares of the company’s stock valued at $10,786,000 after purchasing an additional 53,263 shares during the period. Nationwide Fund Advisors increased its holdings in Myriad Genetics by 117.3% in the second quarter. Nationwide Fund Advisors now owns 92,678 shares of the company’s stock valued at $2,395,000 after purchasing an additional 50,025 shares during the period. Amalgamated Bank acquired a new stake in Myriad Genetics in the second quarter valued at $228,000. New York State Common Retirement Fund increased its holdings in Myriad Genetics by 1.2% in the second quarter. New York State Common Retirement Fund now owns 235,878 shares of the company’s stock valued at $6,095,000 after purchasing an additional 2,799 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in Myriad Genetics by 30.7% in the second quarter. UBS Asset Management Americas Inc. now owns 44,909 shares of the company’s stock valued at $1,160,000 after purchasing an additional 10,545 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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