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

Myriad Genetics, Inc. (NASDAQ:MYGNGet Free Report) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.91.

A number of research analysts have issued reports on MYGN shares. TD Cowen upped their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley assumed coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price target for the company. JPMorgan Chase & Co. lifted their price objective 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. Piper Sandler increased their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company began coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target on the stock.

Get Our Latest Stock Analysis on Myriad Genetics

Insider Buying and Selling at Myriad Genetics

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

Hedge Funds Weigh In On Myriad Genetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYGN. Atria Investments Inc lifted its position in Myriad Genetics by 5.4% during the third quarter. Atria Investments Inc now owns 11,414 shares of the company’s stock valued at $313,000 after purchasing an additional 581 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Myriad Genetics by 4.4% during the 3rd quarter. New York State Teachers Retirement System now owns 73,900 shares of the company’s stock worth $2,024,000 after acquiring an additional 3,102 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Myriad Genetics by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,468 shares of the company’s stock worth $478,000 after acquiring an additional 6,834 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Myriad Genetics by 182.9% in the third quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company’s stock valued at $313,000 after acquiring an additional 7,381 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Stock Down 18.1 %

MYGN opened at $17.99 on Friday. Myriad Genetics has a fifty-two week low of $15.78 and a fifty-two week high of $29.30. The firm has a market capitalization of $1.63 billion, a P/E ratio of -9.94 and a beta of 1.91. The company’s 50-day moving average is $25.57 and its 200 day moving average is $24.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78.

Myriad Genetics (NASDAQ:MYGNGet Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) EPS. Research analysts expect that Myriad Genetics will post -0.35 earnings per share for the current fiscal year.

About Myriad Genetics

(Get Free Report

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.

Recommended Stories

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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.