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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.33.

A number of brokerages have recently commented on MYGN. Scotiabank began coverage on Myriad Genetics in a research note on Thursday. They issued a “sector outperform” rating and a $29.00 target price on the stock. Jefferies Financial Group reaffirmed an “underperform” rating and set a $20.00 price objective (down previously from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Leerink Partnrs upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. SVB Leerink raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $35.00 in a report on Wednesday, May 8th. Finally, Piper Sandler increased their target price on shares of Myriad Genetics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th.

Myriad Genetics Stock Up 0.6 %

Shares of MYGN stock opened at $24.46 on Friday. The stock’s fifty day moving average price is $22.64 and its 200 day moving average price is $21.60. Myriad Genetics has a 1-year low of $13.82 and a 1-year high of $25.95. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -8.67 and a beta of 1.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.99 and a quick ratio of 1.82.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Myriad Genetics had a negative net margin of 30.30% and a negative return on equity of 6.77%. The company had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. During the same period last year, the business earned ($0.28) EPS. Myriad Genetics’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts expect that Myriad Genetics will post -0.36 earnings per share for the current fiscal year.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Daniel K. Spiegelman sold 3,788 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $22.04, for a total value of $83,487.52. Following the completion of the transaction, the director now owns 36,705 shares in the company, valued at $808,978.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Paul J. Diaz sold 57,844 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $25.13, for a total transaction of $1,453,619.72. Following the completion of the sale, the chief executive officer now owns 1,236,166 shares in the company, valued at approximately $31,064,851.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel K. Spiegelman sold 3,788 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.04, for a total value of $83,487.52. Following the transaction, the director now directly owns 36,705 shares in the company, valued at approximately $808,978.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,832 shares of company stock worth $3,574,217. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Glenview Capital Management LLC raised its position in Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after buying an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after buying an additional 1,223,446 shares during the period. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after buying an additional 789,496 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Myriad Genetics by 41.9% in the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock valued at $41,370,000 after buying an additional 638,147 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in Myriad Genetics by 6.7% during the third quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock worth $55,711,000 after acquiring an additional 219,503 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.