Myriad Genetics, Inc. (MYGN) Trading Up 0.8%
Myriad Genetics, Inc. (NASDAQ:MYGN)’s share price traded up 0.8% on Thursday . The company traded as high as $33.20 and last traded at $32.82. 811,478 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,090,590 shares. The stock had previously closed at $32.57.
A number of equities analysts have weighed in on the stock. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and decreased their price objective for the company from $27.86 to $15.00 in a research report on Friday, August 18th. Cowen and Company reissued a “hold” rating and issued a $25.00 price objective on shares of Myriad Genetics in a research report on Monday, August 14th. BidaskClub raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price objective (up from $21.00) on shares of Myriad Genetics in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.22.
The company has a market cap of $2.23 billion, a price-to-earnings ratio of 101.97 and a beta of 0.26. The company has a 50-day moving average of $27.51 and a 200 day moving average of $22.74.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $200.50 million for the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Equities analysts forecast that Myriad Genetics, Inc. will post $1.02 EPS for the current fiscal year.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the sale, the director now directly owns 52,524 shares in the company, valued at approximately $1,591,477.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MYGN. BlackRock Inc. grew its position in Myriad Genetics by 168,335.7% in the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after purchasing an additional 9,536,219 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Myriad Genetics by 7,026.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock worth $70,862,000 after purchasing an additional 2,703,860 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Myriad Genetics by 59.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock worth $50,742,000 after purchasing an additional 987,966 shares during the last quarter. Vanguard Group Inc. grew its position in Myriad Genetics by 16.8% in the 1st quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock worth $120,020,000 after purchasing an additional 897,287 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Myriad Genetics by 131.2% in the 1st quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock worth $17,632,000 after purchasing an additional 521,146 shares during 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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