Myriad Genetics (NASDAQ:MYGN) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
MYGN has been the topic of a number of other research reports. BTIG Research initiated coverage on shares of Myriad Genetics in a report on Friday, January 5th. They issued a “buy” rating and a $41.00 target price on the stock. Barclays restated a “hold” rating and issued a $30.00 target price on shares of Myriad Genetics in a report on Monday, January 8th. Goldman Sachs Group initiated coverage on shares of Myriad Genetics in a report on Monday, January 29th. They issued a “sell” rating and a $32.00 target price on the stock. Zacks Investment Research lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Friday, December 15th. Finally, Stephens set a $45.00 target price on shares of Myriad Genetics and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $31.42.
Myriad Genetics (NASDAQ:MYGN) traded down $4.01 on Tuesday, hitting $29.01. 2,457,898 shares of the company were exchanged, compared to its average volume of 736,833. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12 month low of $17.50 and a 12 month high of $41.57. The firm has a market cap of $2,275.02, a price-to-earnings ratio of 15.68, a PEG ratio of 2.30 and a beta of 0.44.
In other news, VP Richard M. Marsh sold 37,654 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $40.25, for a total transaction of $1,515,573.50. Following the completion of the transaction, the vice president now directly owns 157,648 shares of the company’s stock, valued at approximately $6,345,332. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gary A. King sold 3,120 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $38.12, for a total transaction of $118,934.40. Following the transaction, the vice president now directly owns 125,088 shares of the company’s stock, valued at $4,768,354.56. The disclosure for this sale can be found here. Insiders sold a total of 62,033 shares of company stock valued at $2,382,197 over the last ninety days. 6.70% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in shares of Myriad Genetics by 3.9% during the 3rd quarter. Prudential Financial Inc. now owns 131,073 shares of the company’s stock valued at $4,742,000 after acquiring an additional 4,900 shares during the period. CS Mckee LP grew its position in shares of Myriad Genetics by 42.2% during the 3rd quarter. CS Mckee LP now owns 42,650 shares of the company’s stock valued at $1,543,000 after acquiring an additional 12,650 shares during the period. JPMorgan Chase & Co. grew its position in shares of Myriad Genetics by 43.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 297,072 shares of the company’s stock valued at $10,754,000 after acquiring an additional 90,543 shares during the period. Royce & Associates LP bought a new position in shares of Myriad Genetics during the 3rd quarter valued at approximately $990,000. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Myriad Genetics by 60.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 25,760 shares of the company’s stock valued at $932,000 after acquiring an additional 9,680 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Myriad Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics and related companies with MarketBeat.com's FREE daily email newsletter.