Myriad Genetics, Inc. (MYGN) PT Raised to $26.00
Myriad Genetics, Inc. (NASDAQ:MYGN) had its target price upped by investment analysts at Morgan Stanley from $24.00 to $26.00 in a note issued to investors on Wednesday. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 13.65% from the company’s current price.
A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Monday, July 17th. Barclays PLC decreased their price objective on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “hold” rating and issued a $23.00 price objective (up from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $22.00 target price on shares of Myriad Genetics in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $28.10.
Myriad Genetics (MYGN) traded up $0.21 during midday trading on Wednesday, reaching $30.11. 736,176 shares of the company’s stock traded hands, compared to its average volume of 1,042,821. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $37.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.46. The stock has a market cap of $2,096.97, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. The firm had revenue of $190.20 million during the quarter, compared to analysts’ expectations of $183.52 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. Myriad Genetics’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. equities research analysts expect that Myriad Genetics will post 1.04 earnings per share for the current fiscal year.
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In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of Myriad Genetics stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the transaction, the director now directly owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MYGN. BlackRock Inc. raised its position in shares of Myriad Genetics by 168,335.7% in the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after purchasing an additional 9,536,219 shares during the last quarter. Thrivent Financial For Lutherans raised its position in Myriad Genetics by 7,026.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock worth $70,862,000 after buying an additional 2,703,860 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Myriad Genetics by 59.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock worth $50,742,000 after buying an additional 987,966 shares during the last quarter. Vanguard Group Inc. raised its position in Myriad Genetics by 16.8% in the 1st quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock worth $120,020,000 after buying an additional 897,287 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at about $8,481,000.
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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