Myriad Genetics’ (MYGN) “Sell” Rating Reiterated at Bank of America Corp.
Several other research firms have also weighed in on MYGN. Mizuho dropped their price objective on shares of Myriad Genetics from $34.00 to $22.00 and set a neutral rating on the stock in a research note on Wednesday, August 10th. TheStreet lowered shares of Myriad Genetics from a buy rating to a hold rating in a research note on Wednesday, August 10th. Zacks Investment Research lowered shares of Myriad Genetics from a strong-buy rating to a hold rating in a research note on Monday, August 1st. Piper Jaffray Cos. lowered shares of Myriad Genetics from an overweight rating to a neutral rating and dropped their price objective for the stock from $47.00 to $22.00 in a research note on Wednesday, August 10th. Finally, Wells Fargo & Co. upgraded shares of Myriad Genetics from a market perform rating to an outperform rating in a research note on Sunday, August 21st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $31.00.
Myriad Genetics (NASDAQ:MYGN) opened at 18.62 on Monday. The company’s 50 day moving average price is $20.72 and its 200 day moving average price is $29.61. Myriad Genetics has a 12 month low of $17.66 and a 12 month high of $46.24. The firm has a market capitalization of $1.29 billion, a P/E ratio of 10.89 and a beta of 0.54.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.02. The business had revenue of $186.50 million for the quarter, compared to analyst estimates of $187.95 million. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. Myriad Genetics’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Analysts anticipate that Myriad Genetics will post $1.07 EPS for the current year.
In related news, insider Mark Christopher Capone acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was acquired at an average cost of $21.24 per share, for a total transaction of $212,400.00. Following the completion of the acquisition, the insider now directly owns 146,026 shares of the company’s stock, valued at approximately $3,101,592.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John T. Henderson sold 30,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the completion of the transaction, the director now owns 49,493 shares of the company’s stock, valued at $1,014,111.57. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MYGN. Rice Hall James & Associates LLC bought a new position in Myriad Genetics during the second quarter valued at about $16,101,000. State Street Corp boosted its position in Myriad Genetics by 9.3% in the first quarter. State Street Corp now owns 2,200,112 shares of the company’s stock valued at $82,349,000 after buying an additional 188,101 shares during the period. BNP Paribas Arbitrage SA boosted its position in Myriad Genetics by 28.6% in the second quarter. BNP Paribas Arbitrage SA now owns 19,992 shares of the company’s stock valued at $612,000 after buying an additional 4,449 shares during the period. Teachers Advisors Inc. boosted its position in Myriad Genetics by 13.3% in the first quarter. Teachers Advisors Inc. now owns 114,875 shares of the company’s stock valued at $4,300,000 after buying an additional 13,509 shares during the period. Finally, BlackRock Group LTD boosted its position in Myriad Genetics by 61.1% in the first quarter. BlackRock Group LTD now owns 73,460 shares of the company’s stock valued at $2,749,000 after buying an additional 27,868 shares during the period.
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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