Myriad Genetics’ (NASDAQ:MYGN) “Hold” Rating Reaffirmed at Jefferies Group LLC
Myriad Genetics, Inc. (NASDAQ:MYGN)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They presently have a $23.00 target price on the stock, up from their previous target price of $21.00. Jefferies Group LLC’s price objective indicates a potential downside of 17.80% from the company’s current price. Jefferies Group also issued estimates for Myriad Genetics’ Q2 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.31 EPS and Q4 2019 earnings at $0.29 EPS.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Monday, July 17th. Barclays PLC reduced their price objective on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Piper Jaffray Companies restated a “hold” rating and set a $22.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. Finally, Cowen and Company restated a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.23.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 27.98 on Thursday. Myriad Genetics has a one year low of $15.15 and a one year high of $28.18. The firm’s 50-day moving average price is $25.12 and its 200 day moving average price is $20.79. The stock has a market cap of $1.91 billion, a P/E ratio of 59.79 and a beta of 0.31.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. Myriad Genetics had a return on equity of 9.80% and a net margin of 2.83%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities research analysts expect that Myriad Genetics will post $1.08 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after buying an additional 9,536,219 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock valued at $120,020,000 after buying an additional 897,287 shares in the last quarter. Camber Capital Management LLC raised its stake in shares of Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock valued at $83,040,000 after buying an additional 265,000 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after buying an additional 41,432 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Myriad Genetics by 59.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock valued at $50,742,000 after buying an additional 987,966 shares in the last quarter.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment 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 to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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