Myriad Genetics, Inc. (MYGN) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of Myriad Genetics, Inc. (NASDAQ:MYGN) from a hold rating to a buy rating in a research note released on Friday.
A number of other research analysts have also recently commented on the stock. Deutsche Bank AG boosted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a hold rating in a research report on Wednesday, November 8th. Morgan Stanley boosted their target price on shares of Myriad Genetics from $24.00 to $26.00 and gave the stock an underweight rating in a research report on Wednesday, November 8th. Zacks Investment Research raised shares of Myriad Genetics from a hold rating to a strong-buy rating and set a $42.00 target price on the stock in a research report on Tuesday, October 17th. Leerink Swann reissued a market perform rating and set a $31.00 target price on shares of Myriad Genetics in a research report on Monday, October 2nd. Finally, Stephens reissued an overweight rating and set a $40.00 target price (up from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $28.10.
Myriad Genetics (NASDAQ:MYGN) opened at $32.47 on Friday. The firm has a market cap of $2,184.55, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.02 and a beta of 0.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.06 and a current ratio of 2.34. Myriad Genetics has a 12-month low of $15.15 and a 12-month high of $37.30.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The firm had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $183.52 million. During the same period in the previous year, the company posted $0.23 earnings per share. Myriad Genetics’s revenue was up 7.2% compared to the same quarter last year. equities research analysts predict that Myriad Genetics will post 1.04 EPS for the current year.
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In related news, Director John T. Henderson sold 30,000 shares of Myriad Genetics 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 completion of the sale, the director now owns 52,524 shares in the company, valued at $1,591,477.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.70% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Myriad Genetics by 168,335.7% during the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after purchasing an additional 9,536,219 shares during the last quarter. Vanguard Group Inc. increased its stake in Myriad Genetics by 0.9% during the second quarter. Vanguard Group Inc. now owns 6,307,738 shares of the company’s stock valued at $162,992,000 after purchasing an additional 56,708 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Myriad Genetics by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 3,580,081 shares of the company’s stock valued at $129,527,000 after purchasing an additional 149,865 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in Myriad Genetics by 7,026.7% during the second quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after purchasing an additional 2,703,860 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Myriad Genetics by 31.1% during the second quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after purchasing an additional 306,276 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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