TheStreet Lowers Myriad Genetics (MYGN) to C

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TheStreet cut shares of Myriad Genetics (NASDAQ:MYGN) from a b rating to a c rating in a report issued on Thursday.

Other equities research analysts also recently issued research reports about the company. Bank of America increased their price objective on Myriad Genetics from $31.00 to $34.00 and gave the company a sell rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded Myriad Genetics from a buy rating to a sell rating in a research report on Monday, August 27th. Barclays cut their price objective on Myriad Genetics from $30.00 to $25.00 and set an underweight rating for the company in a research report on Tuesday, September 11th. Piper Jaffray Companies increased their price objective on Myriad Genetics to $38.00 and gave the company a neutral rating in a research report on Wednesday, August 22nd. Finally, Stephens increased their price objective on Myriad Genetics from $45.00 to $52.00 and gave the company an overweight rating in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Myriad Genetics presently has a consensus rating of Hold and a consensus target price of $41.90.

NASDAQ MYGN traded down $0.31 on Thursday, reaching $30.85. 1,369,527 shares of the stock traded hands, compared to its average volume of 1,155,791. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.86 and a current ratio of 3.17. The firm has a market cap of $2.45 billion, a P/E ratio of 25.71, a PEG ratio of 2.02 and a beta of 0.51. Myriad Genetics has a 12 month low of $27.27 and a 12 month high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The firm had revenue of $202.30 million during the quarter, compared to analyst estimates of $203.20 million. During the same period last year, the company posted $0.26 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that Myriad Genetics will post 1.43 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in shares of Myriad Genetics by 37.3% in the first quarter. LPL Financial LLC now owns 9,032 shares of the company’s stock valued at $267,000 after purchasing an additional 2,454 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Myriad Genetics by 3.0% in the first quarter. Legal & General Group Plc now owns 141,462 shares of the company’s stock valued at $4,185,000 after purchasing an additional 4,185 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Myriad Genetics by 59.5% in the first quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock valued at $136,000 after purchasing an additional 1,715 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Myriad Genetics by 44.8% in the first quarter. Xact Kapitalforvaltning AB now owns 10,988 shares of the company’s stock valued at $325,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Myriad Genetics by 3.7% in the first quarter. Principal Financial Group Inc. now owns 583,702 shares of the company’s stock valued at $17,249,000 after purchasing an additional 21,001 shares in the last quarter. Institutional investors own 96.75% of the company’s stock.

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; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; 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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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