Myriad Genetics’ (MYGN) Overweight Rating Reiterated at Stephens
Stephens restated their overweight rating on shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in a research note released on Friday, The Fly reports. Stephens currently has a $40.00 price target on the stock, up from their previous price target of $36.00.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Myriad Genetics from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a hold rating and set a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a research report on Thursday, August 10th. Cowen and Company reiterated a hold rating and set a $25.00 price objective on shares of Myriad Genetics in a research report on Sunday, September 17th. Barclays PLC cut their price objective on Myriad Genetics from $28.00 to $26.00 and set an equal weight rating for the company in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Myriad Genetics from a hold rating to a buy rating and set a $28.00 price objective for the company in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Myriad Genetics currently has a consensus rating of Hold and a consensus target price of $23.44.
Myriad Genetics (NASDAQ MYGN) opened at 33.79 on Friday. The stock has a market cap of $2.31 billion, a P/E ratio of 105.92 and a beta of 0.26. The firm’s 50-day moving average price is $29.26 and its 200 day moving average price is $23.47. Myriad Genetics has a 52-week low of $15.15 and a 52-week high of $33.90.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The company had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Myriad Genetics will post $1.02 earnings per share for the current year.
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In other news, Director John T. Henderson sold 30,000 shares of the company’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 transaction, the director now directly owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. CS Mckee LP increased its stake in shares of Myriad Genetics by 0.3% in the second quarter. CS Mckee LP now owns 30,000 shares of the company’s stock worth $775,000 after acquiring an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Myriad Genetics by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock worth $416,000 after acquiring an additional 490 shares during the last quarter. Aperio Group LLC increased its stake in shares of Myriad Genetics by 4.6% in the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock worth $313,000 after acquiring an additional 534 shares during the last quarter. LeJeune Puetz Investment Counsel LLC increased its stake in shares of Myriad Genetics by 3.3% in the second quarter. LeJeune Puetz Investment Counsel LLC now owns 31,025 shares of the company’s stock worth $802,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Myriad Genetics by 1.1% in the first quarter. Teachers Advisors LLC now owns 116,924 shares of the company’s stock worth $2,245,000 after acquiring an additional 1,287 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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