Myriad Genetics, Inc. (MYGN) PT Raised to $30.00
Myriad Genetics, Inc. (NASDAQ:MYGN) had its target price increased by investment analysts at Deutsche Bank AG from $28.00 to $30.00 in a research note issued on Wednesday. The firm currently has a “hold” rating on the stock. Deutsche Bank AG’s price objective indicates a potential downside of 4.91% from the stock’s current price.
MYGN has been the topic of a number of other research reports. Morgan Stanley reissued an “underweight” rating and issued a $24.00 target price (up previously from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. Zacks Investment Research raised Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, October 17th. BidaskClub lowered Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Stephens reissued an “overweight” rating and issued a $40.00 target price (up previously from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Finally, Leerink Swann reissued a “market perform” rating and issued a $31.00 target price on shares of Myriad Genetics in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.10.
Myriad Genetics (MYGN) traded up $0.46 during midday trading on Wednesday, hitting $31.55. The stock had a trading volume of 670,913 shares, compared to its average volume of 1,060,000. The firm has a market capitalization of $2,170.00, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.94 and a beta of 0.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 2.34. Myriad Genetics has a 52 week low of $15.15 and a 52 week high of $37.30.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The company had revenue of $190.20 million for the quarter, compared to analyst estimates of $183.52 million. During the same quarter last year, the firm posted $0.23 earnings per share. Myriad Genetics’s revenue was up 7.2% compared to the same quarter last year. analysts anticipate that Myriad Genetics will post 1.03 EPS for the current fiscal year.
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In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total value of $909,000.00. Following the completion of the transaction, the director now directly owns 52,524 shares in the company, valued at $1,591,477.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. CS Mckee LP grew its stake in Myriad Genetics by 0.3% in the second quarter. CS Mckee LP now owns 30,000 shares of the company’s stock valued at $775,000 after purchasing an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Myriad Genetics by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock valued at $416,000 after purchasing an additional 490 shares in the last quarter. Aperio Group LLC grew its stake in Myriad Genetics by 4.6% in the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock valued at $313,000 after purchasing an additional 534 shares in the last quarter. LeJeune Puetz Investment Counsel LLC grew its stake in Myriad Genetics by 3.3% in the second quarter. LeJeune Puetz Investment Counsel LLC now owns 31,025 shares of the company’s stock valued at $802,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Myriad Genetics by 1.1% during the 1st quarter. Teachers Advisors LLC now owns 116,924 shares of the company’s stock worth $2,245,000 after acquiring an additional 1,287 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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