Myriad Genetics Inc. (MYGN) Downgraded by Ladenburg Thalmann to “Sell”
Ladenburg Thalmann lowered shares of Myriad Genetics Inc. (NASDAQ:MYGN) from a neutral rating to a sell rating in a research note released on Monday morning. Ladenburg Thalmann currently has $16.00 price target on the stock.
A number of other brokerages have also recently commented on MYGN. Zacks Investment Research raised Myriad Genetics from a hold rating to a buy rating and set a $36.00 price target for the company in a research note on Wednesday, July 27th. Bank of America Corp. cut Myriad Genetics from a neutral rating to an underperform rating and set a $25.00 price target for the company. in a research note on Friday, July 29th. Mizuho reaffirmed a neutral rating and issued a $34.00 price target on shares of Myriad Genetics in a research note on Wednesday, July 6th. Barclays PLC reaffirmed an overweight rating and issued a $50.00 price target on shares of Myriad Genetics in a research note on Wednesday, July 6th. Finally, Morgan Stanley lowered their target price on Myriad Genetics from $25.00 to $21.00 and set an underweight rating for the company in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Myriad Genetics presently has an average rating of Hold and a consensus price target of $31.00.
Myriad Genetics (NASDAQ:MYGN) traded up 0.238% on Monday, hitting $18.915. 432,873 shares of the stock were exchanged. The company’s 50 day moving average is $20.91 and its 200 day moving average is $29.84. The stock has a market cap of $1.31 billion, a PE ratio of 11.061 and a beta of 0.54. Myriad Genetics has a 1-year low of $18.58 and a 1-year high of $46.24.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The company earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, equities research analysts expect that Myriad Genetics will post $1.07 earnings per share for the current year.
In other Myriad Genetics news, insider Mark Christopher Capone acquired 10,000 shares of Myriad Genetics stock in a transaction that occurred on Friday, August 19th. The shares were acquired at an average cost of $21.24 per share, with a total value of $212,400.00. Following the completion of the purchase, the insider now directly owns 146,026 shares of the company’s stock, valued at approximately $3,101,592.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,014,111.57. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in MYGN. First Mercantile Trust Co. raised its stake in Myriad Genetics by 17.0% in the third quarter. First Mercantile Trust Co. now owns 17,887 shares of the company’s stock valued at $368,000 after buying an additional 2,593 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Myriad Genetics by 31.9% in the third quarter. BNP Paribas Arbitrage SA now owns 26,376 shares of the company’s stock worth $543,000 after buying an additional 6,384 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Myriad Genetics by 21.6% in the second quarter. Royal Bank of Canada now owns 10,431 shares of the company’s stock worth $321,000 after buying an additional 1,851 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of 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 worth $4,617,000 after buying an additional 443 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Myriad Genetics by 6.3% in the second quarter. Sterling Capital Management LLC now owns 1,523,758 shares of the company’s stock worth $46,627,000 after buying an additional 90,420 shares during the last quarter.
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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