Myriad Genetics, Inc. (NASDAQ:MYGN) had its price objective upped by Deutsche Bank AG from $28.00 to $30.00 in a report published on Wednesday morning. The brokerage currently has a hold rating on the stock.
MYGN has been the topic of a number of other reports. Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a strong-buy rating and set a $42.00 price target on the stock in a research note on Tuesday, October 17th. Jefferies Group LLC reaffirmed a hold rating and set a $23.00 price target (up from $21.00) on shares of Myriad Genetics in a research note on Thursday, August 10th. Cowen and Company reaffirmed a hold rating and set a $25.00 price target on shares of Myriad Genetics in a research note on Sunday, September 17th. Stephens reaffirmed an overweight rating and set a $40.00 price target (up from $36.00) on shares of Myriad Genetics in a research note on Friday, September 22nd. Finally, Morgan Stanley reaffirmed an underweight rating and set a $24.00 price target (up from $17.00) on shares of Myriad Genetics in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $28.10.
Myriad Genetics (NASDAQ MYGN) traded up $0.46 during trading hours on Wednesday, hitting $31.55. 812,200 shares of the stock were exchanged, compared to its average volume of 1,222,419. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.26 and a current ratio of 2.34. Myriad Genetics has a fifty-two week low of $15.15 and a fifty-two week high of $37.30. The firm has a market cap of $2,152.70, a PE ratio of 28.52, a PEG ratio of 2.00 and a beta of 0.24.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The business had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $183.52 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. analysts forecast that Myriad Genetics will post 1.04 EPS for the current year.
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In related news, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the sale, the director now directly owns 52,524 shares in the company, valued at approximately $1,591,477.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.70% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its holdings in Myriad Genetics by 1,067.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after purchasing an additional 3,010 shares in the last quarter. SG Americas Securities LLC purchased a new position in Myriad Genetics in the 2nd quarter valued at about $101,000. Riverhead Capital Management LLC lifted its holdings in Myriad Genetics by 80.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after purchasing an additional 1,861 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Myriad Genetics in the 2nd quarter valued at about $113,000. Finally, Commonwealth Equity Services Inc purchased a new position in Myriad Genetics in the 3rd quarter valued at about $202,000.
Myriad Genetics Company Profile
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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