Myriad Genetics’ (MYGN) Hold Rating Reiterated at Cowen and Company
Cowen and Company reiterated their hold rating on shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in a research report sent to investors on Monday. The firm currently has a $25.00 price target on the stock.
A number of other equities analysts have also weighed in on MYGN. Jefferies Group LLC reiterated a hold rating and issued a $21.00 price target (up previously from $18.00) on shares of Myriad Genetics in a research report on Wednesday, May 3rd. Deutsche Bank AG raised their price objective on Myriad Genetics from $15.00 to $20.00 and gave the stock a sell rating in a research report on Monday, May 8th. BidaskClub upgraded Myriad Genetics from a sell rating to a hold rating in a research report on Friday, June 9th. J P Morgan Chase & Co restated an underweight rating and set a $16.00 price objective on shares of Myriad Genetics in a research report on Friday, June 30th. Finally, Piper Jaffray Companies restated a hold rating and set a $22.00 price objective on shares of Myriad Genetics in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Myriad Genetics presently has an average rating of Hold and an average target price of $21.78.
Myriad Genetics (NASDAQ:MYGN) traded up 1.04% on Monday, reaching $28.16. 434,738 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $25.23 and its 200 day moving average is $21.08. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $28.39. The stock has a market capitalization of $1.93 billion, a P/E ratio of 88.28 and a beta of 0.31.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The business had revenue of $200.50 million during the quarter, compared to analyst estimates of $193.71 million. During the same quarter last year, the company posted $0.36 EPS. Myriad Genetics’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Myriad Genetics will post $1.04 EPS for the current year.
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Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Myriad Genetics during the fourth quarter worth $14,319,000. Arizona State Retirement System purchased a new stake in Myriad Genetics during the first quarter worth $682,000. Bank of New York Mellon Corp increased its stake in Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock worth $17,632,000 after buying an additional 521,146 shares during the period. Frontier Capital Management Co. LLC increased its stake in Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock worth $59,058,000 after buying an additional 41,432 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Myriad Genetics by 958.4% in the first quarter. Great West Life Assurance Co. Can now owns 97,514 shares of the company’s stock worth $1,870,000 after buying an additional 88,301 shares during the period.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment 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 to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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