Myriad Genetics Inc. (MYGN) Downgraded by Ladenburg Thalmann
Ladenburg Thalmann cut shares of Myriad Genetics Inc. (NASDAQ:MYGN) from a neutral rating to a sell rating in a research report report published on Monday. Ladenburg Thalmann currently has $16.00 price target on the stock.
A number of other research analysts also recently commented on the company. Wells Fargo & Co. upgraded Myriad Genetics from a market perform rating to an outperform rating in a research note on Sunday, August 21st. Zacks Investment Research cut Myriad Genetics from a hold rating to a sell rating in a research note on Tuesday, August 16th. TheStreet cut Myriad Genetics from a buy rating to a hold rating in a research note on Wednesday, August 10th. Jefferies Group decreased their price target on Myriad Genetics from $34.00 to $20.00 and set a hold rating for the company in a research note on Thursday, August 11th. Finally, Stephens set a $30.00 price target on Myriad Genetics and gave the stock a buy rating in a research note on Thursday, August 11th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $31.00.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 19.21 on Monday. Myriad Genetics has a 12-month low of $18.51 and a 12-month high of $46.24. The firm has a market cap of $1.33 billion, a P/E ratio of 11.23 and a beta of 0.54. The firm has a 50-day moving average price of $20.79 and a 200-day moving average price of $29.69.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The company had revenue of $186.50 million for the quarter, compared to the consensus estimate of $187.95 million. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. Myriad Genetics’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 earnings per share. On average, equities research analysts expect that Myriad Genetics will post $1.07 earnings per share for the current fiscal year.
In related news, insider Mark Christopher Capone bought 10,000 shares of Myriad Genetics stock in a transaction dated Friday, August 19th. The stock was acquired at an average cost of $21.24 per share, with a total value of $212,400.00. Following the completion of the acquisition, the insider now directly owns 146,026 shares in the company, valued at approximately $3,101,592.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $20.49, for a total value of $614,700.00. Following the sale, the director now directly owns 49,493 shares of the company’s stock, valued at $1,014,111.57. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC bought a new stake in shares of Myriad Genetics during the first quarter valued at approximately $109,000. Societe Generale bought a new stake in shares of Myriad Genetics during the second quarter valued at approximately $120,000. US Bancorp DE increased its stake in shares of Myriad Genetics by 55.0% in the second quarter. US Bancorp DE now owns 4,122 shares of the company’s stock valued at $126,000 after buying an additional 1,462 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Myriad Genetics during the first quarter valued at approximately $148,000. Finally, BlackRock Inc. increased its stake in shares of Myriad Genetics by 123.4% in the first quarter. BlackRock Inc. now owns 4,715 shares of the company’s stock valued at $176,000 after buying an additional 2,604 shares in the last quarter.
About Myriad Genetics
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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