Myriad Genetics Inc. (NASDAQ:MYGN) was downgraded by investment analysts at Ladenburg Thalmann from a “neutral” rating to a “sell” rating in a report issued on Monday, The Fly reports.
Other equities research analysts have also recently issued reports about the stock. Stephens set a $30.00 target price on shares of Myriad Genetics and gave the company a “buy” rating in a research report on Thursday, August 11th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Wednesday, July 27th. Barclays PLC lowered shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $50.00 to $24.00 in a report on Wednesday, August 10th. Jefferies Group dropped their price objective on shares of Myriad Genetics from $34.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, August 11th. Finally, Gabelli lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $46.00 to $32.00 in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.21.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 21.345 on Monday. The company’s 50-day moving average is $20.97 and its 200-day moving average is $30.07. Myriad Genetics has a one year low of $19.10 and a one year high of $46.24. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.482 and a beta of 0.54.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The business earned $186.50 million during the quarter, compared to analyst estimates of $187.95 million. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. Myriad Genetics’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities analysts predict that Myriad Genetics will post $1.07 EPS for the current year.
In other news, insider Mark Christopher Capone bought 10,000 shares of Myriad Genetics stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average price of $21.24 per share, with a total value of $212,400.00. Following the completion of the acquisition, the insider now directly owns 146,026 shares in the company, valued at $3,101,592.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the completion of the sale, the director now directly owns 49,493 shares in the company, valued at approximately $1,014,111.57. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Aperio Group LLC boosted its stake in shares of Myriad Genetics by 16.0% in the first quarter. Aperio Group LLC now owns 13,058 shares of the company’s stock valued at $489,000 after buying an additional 1,805 shares during the period. Ngam Advisors L.P. boosted its stake in shares of Myriad Genetics by 147.9% in the first quarter. Ngam Advisors L.P. now owns 64,792 shares of the company’s stock valued at $2,425,000 after buying an additional 38,658 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Myriad Genetics by 13.3% in the first quarter. Teachers Advisors Inc. now owns 114,875 shares of the company’s stock valued at $4,300,000 after buying an additional 13,509 shares during the period. Prudential Financial Inc. boosted its stake in shares of Myriad Genetics by 1,699.8% in the first quarter. Prudential Financial Inc. now owns 114,883 shares of the company’s stock valued at $4,300,000 after buying an additional 108,500 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Myriad Genetics by 123.4% in the first quarter. BlackRock Inc. now owns 4,715 shares of the company’s stock valued at $176,000 after buying an additional 2,604 shares during the period.
About Myriad Genetics
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.
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