Myriad Genetics, Inc. (NASDAQ:MYGN) Given Average Rating of “Hold” by Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have received an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $23.17.

Separately, The Goldman Sachs Group raised their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th.

Myriad Genetics Stock Down 0.1 %

Shares of NASDAQ MYGN opened at $18.49 on Tuesday. Myriad Genetics has a 12-month low of $13.82 and a 12-month high of $24.21. The stock has a market cap of $1.67 billion, a P/E ratio of -5.78 and a beta of 1.95. The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $21.45 and its 200-day simple moving average is $19.55.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $196.60 million during the quarter, compared to the consensus estimate of $194.80 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, equities analysts predict that Myriad Genetics will post -0.36 EPS for the current fiscal year.

Institutional Trading of Myriad Genetics

Hedge funds have recently bought and sold shares of the company. Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after acquiring an additional 1,500,000 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after purchasing an additional 1,223,446 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Myriad Genetics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after buying an additional 789,496 shares during the last quarter. Sei Investments Co. lifted its stake in Myriad Genetics by 41.9% during the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock worth $41,370,000 after purchasing an additional 638,147 shares during the last quarter. Finally, Earnest Partners LLC grew its position in shares of Myriad Genetics by 6.7% during the 3rd quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock valued at $55,711,000 after buying an additional 219,503 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.