Myriad Genetics (NASDAQ:MYGN) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Myriad Genetics (NASDAQ:MYGN) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other research analysts have also issued reports on the company. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Morgan Stanley reduced their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Piper Sandler reduced their price objective on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Stephens restated an “equal weight” rating and set a $20.00 price objective on shares of Myriad Genetics in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.14.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $10.73 on Friday. Myriad Genetics has a twelve month low of $9.76 and a twelve month high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $976.81 million, a price-to-earnings ratio of -8.25 and a beta of 1.88. The business has a 50 day simple moving average of $13.28 and a 200-day simple moving average of $18.97.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The company had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. As a group, equities research analysts expect that Myriad Genetics will post -0.3 earnings per share for the current year.

Institutional Trading of Myriad Genetics

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Myriad Genetics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock valued at $145,203,000 after buying an additional 279,379 shares during the period. State Street Corp lifted its holdings in shares of Myriad Genetics by 8.3% in the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after buying an additional 359,685 shares during the period. Earnest Partners LLC lifted its holdings in shares of Myriad Genetics by 0.4% in the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock valued at $54,451,000 after buying an additional 15,650 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock valued at $37,932,000 after buying an additional 336,770 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Myriad Genetics by 21.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after buying an additional 440,107 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.