Myriad Genetics Inc. (NASDAQ:MYGN) Receives $31.92 Consensus Target Price from Analysts
Myriad Genetics Inc. (NASDAQ:MYGN) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.92.
Several equities research analysts have issued reports on the company. Mizuho lowered their price target on Myriad Genetics from $34.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, August 10th. Stephens set a $30.00 price target on Myriad Genetics and gave the stock a “buy” rating in a report on Thursday, August 11th. Jefferies Group lowered their price target on Myriad Genetics from $34.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, August 11th. Piper Jaffray Cos. downgraded Myriad Genetics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $47.00 to $22.00 in a report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, July 27th.
In other Myriad Genetics news, insider Mark Christopher Capone acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was bought at an average cost of $21.24 per share, with a total value of $212,400.00. Following the completion of the transaction, the insider now directly owns 146,026 shares in the company, valued at approximately $3,101,592.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $20.49, for a total value of $614,700.00. Following the completion of the sale, the director now directly owns 49,493 shares of the company’s stock, valued at $1,014,111.57. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new stake in Myriad Genetics during the first quarter worth about $109,000. Societe Generale acquired a new stake in Myriad Genetics during the second quarter worth about $120,000. US Bancorp DE boosted its stake in Myriad Genetics by 55.0% in the second quarter. US Bancorp DE now owns 4,122 shares of the company’s stock worth $126,000 after buying an additional 1,462 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Myriad Genetics during the first quarter worth about $148,000. Finally, BlackRock Inc. boosted its stake in Myriad Genetics by 123.4% in the first quarter. BlackRock Inc. now owns 4,715 shares of the company’s stock worth $176,000 after buying an additional 2,604 shares during the last quarter.
Myriad Genetics (NASDAQ:MYGN) opened at 20.58 on Wednesday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.04 and a beta of 0.54. The stock’s 50 day moving average price is $21.02 and its 200-day moving average price is $30.64. Myriad Genetics has a one year low of $19.10 and a one year high of $46.24.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.02. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. The business earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Myriad Genetics will post $1.07 EPS for the current fiscal year.
Myriad Genetics Company Profile
Myriad Genetics, Inc (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics, which 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, or assess a patient’s risk of disease progression and disease recurrence, and other, which provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients.
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