Myriad Genetics Inc. (MYGN) Shares Down 2.9%
Myriad Genetics Inc. (NASDAQ:MYGN) was down 2.9% during mid-day trading on Friday . The company traded as low as $29.09 and last traded at $31.14, with a volume of 1,066,984 shares trading hands. The stock had previously closed at $32.07.
A number of equities research analysts recently issued reports on MYGN shares. Zacks Investment Research downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research note on Thursday, April 14th. Leerink Swann reaffirmed a “market perform” rating and set a $44.00 price target on shares of Myriad Genetics in a research note on Wednesday, April 20th. Mizuho reaffirmed a “neutral” rating and set a $34.00 price target (down previously from $42.00) on shares of Myriad Genetics in a research note on Wednesday, May 4th. Avondale Partners decreased their price target on shares of Myriad Genetics from $50.00 to $47.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 4th. Finally, Bank of America Corp. reaffirmed a “hold” rating and set a $39.00 price target on shares of Myriad Genetics in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $42.31.
The firm has a market cap of $2.18 billion and a P/E ratio of 20.93. The stock has a 50-day moving average of $31.09 and a 200 day moving average of $35.25.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. During the same period last year, the firm earned $0.40 EPS. The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $185.08 million. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Myriad Genetics Inc. will post $1.65 earnings per share for the current year.
In other Myriad Genetics news, insider Alexander Ford sold 18,637 shares of Myriad Genetics stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $30.87, for a total transaction of $575,324.19. Following the sale, the insider now owns 40,122 shares of the company’s stock, valued at approximately $1,238,566.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
A number of large investors have made changes to their positions in MYGN. Nationwide Fund Advisors boosted its stake in shares of Myriad Genetics by 2.0% in the fourth quarter. Nationwide Fund Advisors now owns 45,572 shares of the company’s stock valued at $1,967,000 after buying an additional 896 shares during the period. Bank of Montreal Can boosted its stake in shares of Myriad Genetics by 30.8% in the fourth quarter. Bank of Montreal Can now owns 75,758 shares of the company’s stock valued at $3,270,000 after buying an additional 17,841 shares during the period. KBC Group NV boosted its stake in shares of Myriad Genetics by 27.3% in the fourth quarter. KBC Group NV now owns 86,312 shares of the company’s stock valued at $3,725,000 after buying an additional 18,524 shares during the period. Fiduciary Management Associates LLC acquired a new stake in shares of Myriad Genetics during the fourth quarter valued at about $17,415,000. Finally, Morgan Stanley boosted its stake in shares of Myriad Genetics by 363.0% in the fourth quarter. Morgan Stanley now owns 614,409 shares of the company’s stock valued at $26,517,000 after buying an additional 481,702 shares during the period.
Myriad Genetics, Inc (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics, which 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, or assess a patient’s risk of disease progression and disease recurrence, and other, which provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients.
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