Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Rating of “Hold” from Brokerages

Myriad Genetics, Inc. (NASDAQ:MYGN) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $28.60.

A number of equities research analysts recently issued reports on MYGN shares. Piper Sandler increased their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. TD Cowen boosted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Jefferies Financial Group reissued an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Scotiabank increased their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th.

Myriad Genetics Trading Up 0.4 %

Shares of Myriad Genetics stock opened at $26.39 on Friday. The stock has a fifty day simple moving average of $27.18 and a 200 day simple moving average of $23.86. The company has a market capitalization of $2.39 billion, a P/E ratio of -9.36 and a beta of 1.92. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12-month low of $13.82 and a 12-month high of $29.08.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Myriad Genetics will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Myriad Genetics

In other news, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Myriad Genetics

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Myriad Genetics by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock valued at $213,961,000 after purchasing an additional 81,475 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after acquiring an additional 1,223,446 shares during the last quarter. Glenview Capital Management LLC increased its stake 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 valued at $101,135,000 after purchasing an additional 1,500,000 shares in the last quarter. Earnest Partners LLC increased its position in shares of Myriad Genetics by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 4,072,018 shares of the company’s stock valued at $99,602,000 after acquiring an additional 138,960 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Myriad Genetics by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock worth $67,924,000 after purchasing an additional 75,445 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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.