Myriad Genetics Inc. (MYGN) Sees Strong Trading Volume
Myriad Genetics Inc. (NASDAQ:MYGN) shares saw an uptick in trading volume on Tuesday . 2,413,278 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 1,035,875 shares.The stock last traded at $29.46 and had previously closed at $29.99.
A number of research firms have commented on MYGN. 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 reiterated a “market perform” rating and set a $44.00 target price on shares of Myriad Genetics in a research report on Wednesday, April 20th. Mizuho reiterated a “neutral” rating and set a $34.00 target price (down from $42.00) on shares of Myriad Genetics in a research report on Wednesday, May 4th. Avondale Partners reduced their target price on shares of Myriad Genetics from $50.00 to $47.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 4th. Finally, Bank of America Corp. reiterated a “hold” rating and set a $39.00 target price on shares of Myriad Genetics in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.31.
The company’s 50 day moving average is $31.12 and its 200 day moving average is $34.70. The stock has a market capitalization of $2.07 billion and a PE ratio of 19.91.
Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, August 9th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.38 by $0.06. The business had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $187.95 million. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, analysts forecast that Myriad Genetics Inc. will post $1.65 EPS for the current fiscal year.
In other news, insider Alexander Ford sold 18,637 shares of the firm’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 value of $575,324.19. Following the sale, the insider now directly owns 40,122 shares in the company, valued at approximately $1,238,566.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Several large investors recently bought and sold shares of MYGN. Bank of Montreal Can increased its stake 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 during the last quarter. KBC Group NV increased its stake 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 during the last quarter. Fiduciary Management Associates LLC bought a new stake in Myriad Genetics during the fourth quarter worth $17,415,000. Morgan Stanley increased its stake 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 during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 during 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.