Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $28.91.

MYGN has been the subject of several research analyst reports. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Morgan Stanley initiated coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 target price on the stock. TD Cowen lifted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Scotiabank raised their price objective on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th.

Insider Buying and Selling at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the sale, the director now directly owns 42,533 shares of the company’s stock, valued at approximately $1,188,797.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the sale, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,012 shares of company stock worth $1,900,485 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds have recently added to or reduced their stakes in MYGN. Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 39.6% during the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after purchasing an additional 1,500,000 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of Myriad Genetics in the 1st quarter valued at about $467,000. AMH Equity Ltd acquired a new stake in shares of Myriad Genetics in the first quarter valued at about $2,345,000. Wellington Management Group LLP raised its position in shares of Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after acquiring an additional 1,223,446 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Myriad Genetics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after purchasing an additional 789,496 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Trading Up 4.4 %

NASDAQ:MYGN opened at $24.08 on Tuesday. Myriad Genetics has a twelve month low of $13.82 and a twelve month high of $29.30. The business has a 50 day moving average price of $27.09 and a two-hundred day moving average price of $24.54. The company has a market cap of $2.18 billion, a P/E ratio of -8.54 and a beta of 1.91. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. As a group, analysts expect that Myriad Genetics will post -0.34 EPS for the current fiscal year.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.