Myriad Genetics Inc. (MYGN) Rating Reiterated by Barclays PLC
Myriad Genetics Inc. (NASDAQ:MYGN)‘s stock had its “equal weight” rating reaffirmed by research analysts at Barclays PLC in a research note issued on Monday. They presently have a $22.00 price objective on the stock. Barclays PLC’s target price would suggest a potential upside of 14.88% from the company’s current price.
A number of other brokerages have also recently issued reports on MYGN. Mizuho decreased their target price on Myriad Genetics from $34.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, August 10th. TheStreet lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Zacks Investment Research lowered Myriad Genetics from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. Piper Jaffray Cos. lowered Myriad Genetics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $22.00 in a report on Wednesday, August 10th. Finally, Wells Fargo & Co. upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Sunday, August 21st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.00.
Shares of Myriad Genetics (NASDAQ:MYGN) traded up 1.15% during mid-day trading on Monday, reaching $19.37. 100,195 shares of the company were exchanged. Myriad Genetics has a 12 month low of $18.51 and a 12 month high of $46.24. The company’s 50-day moving average is $20.85 and its 200 day moving average is $29.76. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.33 and a beta of 0.54.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $186.50 million for the quarter, compared to the consensus estimate of $187.95 million. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Analysts predict that Myriad Genetics will post $1.07 EPS for the current year.
In other news, Director John T. Henderson sold 30,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $20.49, for a total transaction of $614,700.00. Following the sale, the director now owns 49,493 shares in the company, valued at $1,014,111.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Christopher Capone bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were acquired at an average price of $21.24 per share, for a total transaction of $212,400.00. Following the acquisition, the insider now directly owns 146,026 shares of the company’s stock, valued at approximately $3,101,592.24. The disclosure for this purchase can be found here. Insiders own 5.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Albert D Mason Inc. boosted its position in Myriad Genetics by 0.5% in the second quarter. Albert D Mason Inc. now owns 24,432 shares of the company’s stock valued at $748,000 after buying an additional 123 shares in the last quarter. Rhumbline Advisers boosted its position in Myriad Genetics by 0.4% in the second quarter. Rhumbline Advisers now owns 70,590 shares of the company’s stock valued at $2,160,000 after buying an additional 270 shares in the last quarter. Eqis Capital Management Inc. boosted its position in Myriad Genetics by 2.6% in the second quarter. Eqis Capital Management Inc. now owns 15,464 shares of the company’s stock valued at $473,000 after buying an additional 398 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Myriad Genetics by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 150,895 shares of the company’s stock valued at $4,617,000 after buying an additional 443 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Myriad Genetics by 0.3% in the second quarter. Gabelli Funds LLC now owns 160,000 shares of the company’s stock valued at $4,896,000 after buying an additional 500 shares in the last quarter.
About Myriad Genetics
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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