Myriad Genetics Inc. (MYGN) Trading Up 4.2%
Myriad Genetics Inc. (NASDAQ:MYGN) shares were up 4.2% during mid-day trading on Thursday . The stock traded as high as $20.68 and last traded at $20.52, with a volume of 3,958,082 shares. The stock had previously closed at $19.70.
Several research analysts recently issued reports on MYGN shares. Zacks Investment Research lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Thursday, April 14th. Leerink Swann reaffirmed a “market perform” rating and set a $44.00 price objective on shares of Myriad Genetics in a report on Wednesday, April 20th. Barclays PLC reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Myriad Genetics in a report on Wednesday, July 6th. Mizuho reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Myriad Genetics in a report on Wednesday, July 6th. Finally, Bank of America Corp. lowered shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and set a $25.00 price objective for the company. in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.73.
The stock has a market cap of $1.46 billion and a P/E ratio of 14.05. The firm has a 50-day moving average price of $30.51 and a 200 day moving average price of $34.49.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $187.95 million. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. Equities analysts anticipate that Myriad Genetics Inc. will post $1.26 EPS for the current year.
In other news, insider Alexander Ford sold 18,637 shares of the company’s stock in a transaction that occurred 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 completion of 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 legal filing with the SEC, which is accessible through this hyperlink.
A number of institutional investors recently added to or reduced their stakes in MYGN. Bank of Montreal Can boosted its position in Myriad Genetics by 30.8% in the fourth quarter. Bank of Montreal Can now owns 75,758 shares of the company’s stock worth $3,270,000 after buying an additional 17,841 shares in the last quarter. KBC Group NV boosted its position in Myriad Genetics by 27.3% in the fourth quarter. KBC Group NV now owns 86,312 shares of the company’s stock worth $3,725,000 after buying an additional 18,524 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Myriad Genetics by 10.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,341,041 shares of the company’s stock worth $57,881,000 after buying an additional 125,196 shares in the last quarter. Fiduciary Management Associates LLC bought a new position in Myriad Genetics during the fourth quarter worth about $17,415,000. Finally, Morgan Stanley boosted its position in Myriad Genetics by 363.0% in the fourth quarter. Morgan Stanley now owns 614,409 shares of the company’s stock worth $26,517,000 after buying an additional 481,702 shares in the last quarter.
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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