Myriad Genetics, Inc. (NASDAQ:MYGN) had its price objective increased by Deutsche Bank AG from $28.00 to $30.00 in a report issued on Wednesday morning. They currently have a hold rating on the stock.
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Myriad Genetics from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Myriad Genetics from a hold rating to a buy rating and set a $28.00 target price on the stock in a research report on Monday, July 17th. Barclays PLC lowered their target price on shares of Myriad Genetics from $28.00 to $26.00 and set an equal weight rating on the stock in a research report on Wednesday, August 9th. Jefferies Group LLC restated a hold rating and set a $23.00 target price (up from $21.00) on shares of Myriad Genetics in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies restated a hold rating and set a $22.00 target price 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 issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $28.10.
Shares of Myriad Genetics (MYGN) traded up $0.46 during trading on Wednesday, hitting $31.55. 812,200 shares of the stock were exchanged, compared to its average volume of 1,217,123. Myriad Genetics has a twelve month low of $15.15 and a twelve month high of $37.30. The company has a current ratio of 2.34, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2,184.55, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results 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 net margin of 13.28% and a return on equity of 9.54%. The company had revenue of $190.20 million for the quarter, compared to analyst estimates of $183.52 million. During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. equities analysts forecast that Myriad Genetics will post 1.04 EPS for the current fiscal year.
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In related news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MYGN. SG Americas Securities LLC purchased a new position in shares of Myriad Genetics during the second quarter valued at approximately $101,000. Riverhead Capital Management LLC lifted its stake in shares of Myriad Genetics by 80.9% during the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after buying an additional 1,861 shares during the period. Fiduciary Trust Co. purchased a new position in Myriad Genetics during the second quarter worth approximately $113,000. Meeder Asset Management Inc. raised its stake in Myriad Genetics by 1,067.4% during the third quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after purchasing an additional 3,010 shares during the period. Finally, Commonwealth Equity Services Inc purchased a new position in Myriad Genetics during the third quarter worth approximately $202,000.
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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