Myriad Genetics (MYGN) Shares Down 0.5%

Myriad Genetics (NASDAQ:MYGN) was down 0.5% on Friday . The company traded as low as $29.02 and last traded at $28.97. Approximately 166,254 shares traded hands during trading, a decline of 77% from the average daily volume of 728,926 shares. The stock had previously closed at $29.11.

A number of equities research analysts have recently weighed in on MYGN shares. ValuEngine lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 15th. Stephens set a $45.00 target price on shares of Myriad Genetics and gave the company a “buy” rating in a research note on Wednesday, January 3rd. BTIG Research assumed coverage on shares of Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 price target for the company. Finally, Barclays reissued a “hold” rating and set a $30.00 price target on shares of Myriad Genetics in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Myriad Genetics has a consensus rating of “Hold” and an average price target of $31.42.

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The stock has a market capitalization of $2,033.34, a PE ratio of 15.58, a PEG ratio of 2.05 and a beta of 0.44. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Myriad Genetics had a net margin of 16.67% and a return on equity of 9.59%. The company had revenue of $194.00 million during the quarter, compared to analysts’ expectations of $188.72 million. During the same period last year, the company posted $0.26 EPS. Myriad Genetics’s revenue was down 1.3% on a year-over-year basis. equities analysts anticipate that Myriad Genetics will post 1.15 EPS for the current fiscal year.

In other Myriad Genetics news, VP Richard M. Marsh sold 13,759 shares of Myriad Genetics stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $36.25, for a total value of $498,763.75. Following the completion of the transaction, the vice president now directly owns 136,385 shares of the company’s stock, valued at $4,943,956.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gary A. King sold 3,120 shares of Myriad Genetics stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $38.12, for a total transaction of $118,934.40. Following the completion of the transaction, the vice president now directly owns 125,088 shares of the company’s stock, valued at $4,768,354.56. The disclosure for this sale can be found here. Insiders sold 54,533 shares of company stock valued at $2,133,272 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of MYGN. Allianz Asset Management GmbH raised its holdings in Myriad Genetics by 4,202.5% in the fourth quarter. Allianz Asset Management GmbH now owns 485,018 shares of the company’s stock worth $16,658,000 after buying an additional 473,745 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Myriad Genetics by 98.2% in the third quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock worth $30,548,000 after buying an additional 418,335 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Myriad Genetics by 18.4% in the fourth quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock worth $75,743,000 after buying an additional 343,196 shares during the last quarter. Bogle Investment Management L P DE purchased a new position in Myriad Genetics in the fourth quarter worth about $11,615,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Myriad Genetics in the third quarter worth about $9,083,000.

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About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BART, a DNA sequencing test for hereditary breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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