Myriad Genetics, Inc. (NASDAQ:MYGN) Given Average Recommendation of “Hold” by Analysts

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus rating of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $6.50.

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wells Fargo & Company lowered their price target on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, TD Cowen cut their price objective on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th.

Insider Activity

In other news, Director Rashmi Kumar sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $4.46, for a total value of $66,900.00. Following the completion of the sale, the director directly owned 171,889 shares of the company’s stock, valued at approximately $766,624.94. This represents a 8.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Bisaro purchased 7,500 shares of Myriad Genetics stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $3.69 per share, with a total value of $27,675.00. Following the completion of the purchase, the director owned 97,441 shares in the company, valued at approximately $359,557.29. This trade represents a 8.34% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYGN. Orbimed Advisors LLC acquired a new stake in Myriad Genetics in the first quarter worth approximately $562,500,000. Vanguard Group Inc. increased its position in shares of Myriad Genetics by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 8,225,371 shares of the company’s stock valued at $50,586,000 after purchasing an additional 342,856 shares during the period. Millennium Management LLC raised its stake in shares of Myriad Genetics by 41.1% in the 4th quarter. Millennium Management LLC now owns 6,700,158 shares of the company’s stock worth $41,206,000 after buying an additional 1,951,831 shares in the last quarter. State Street Corp lifted its holdings in shares of Myriad Genetics by 19.9% in the fourth quarter. State Street Corp now owns 5,966,567 shares of the company’s stock valued at $36,694,000 after buying an additional 990,075 shares during the period. Finally, Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 17.6% in the second quarter. Glenview Capital Management LLC now owns 4,587,407 shares of the company’s stock valued at $24,359,000 after buying an additional 687,857 shares during the period. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of MYGN traded up $0.24 during mid-day trading on Thursday, reaching $5.28. 84,695 shares of the company’s stock traded hands, compared to its average volume of 1,552,971. The business’s 50-day moving average price is $5.08 and its 200-day moving average price is $4.96. The stock has a market capitalization of $498.88 million, a P/E ratio of -1.22 and a beta of 1.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40. Myriad Genetics has a 12 month low of $3.53 and a 12 month high of $8.59.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The business had revenue of $200.40 million during the quarter, compared to the consensus estimate of $202.42 million. During the same period last year, the company earned ($0.03) earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Myriad Genetics will post -0.17 earnings per share for the current year.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.