BidaskClub Lowers Myriad Genetics (MYGN) to Sell

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BidaskClub cut shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Several other research firms have also weighed in on MYGN. Barclays lowered shares of Myriad Genetics from an equal weight rating to an underweight rating and lowered their target price for the stock from $38.00 to $30.00 in a report on Wednesday, September 5th. Zacks Investment Research lowered shares of Myriad Genetics from a buy rating to a sell rating in a report on Monday, August 27th. Bank of America upped their target price on shares of Myriad Genetics from $31.00 to $34.00 and gave the stock a sell rating in a report on Wednesday, August 22nd. ValuEngine lowered shares of Myriad Genetics from a strong-buy rating to a buy rating in a report on Wednesday, September 12th. Finally, Morgan Stanley upped their target price on shares of Myriad Genetics from $51.00 to $54.00 and gave the stock an overweight rating in a report on Wednesday, October 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $41.90.

NASDAQ:MYGN opened at $31.51 on Wednesday. The firm has a market cap of $2.40 billion, a P/E ratio of 23.80, a P/E/G ratio of 1.86 and a beta of 0.36. Myriad Genetics has a one year low of $27.27 and a one year high of $50.44. The company has a quick ratio of 2.83, a current ratio of 3.17 and a debt-to-equity ratio of 0.23.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.13. Myriad Genetics had a net margin of 7.07% and a return on equity of 10.07%. The business had revenue of $202.30 million for the quarter, compared to analyst estimates of $203.20 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, analysts forecast that Myriad Genetics will post 1.5 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Myriad Genetics by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,656,933 shares of the company’s stock worth $398,219,000 after acquiring an additional 365,697 shares during the last quarter. Morgan Stanley grew its holdings in Myriad Genetics by 110.9% during the 3rd quarter. Morgan Stanley now owns 737,327 shares of the company’s stock worth $33,916,000 after acquiring an additional 387,692 shares during the last quarter. Legal & General Group Plc grew its holdings in Myriad Genetics by 10.8% during the 3rd quarter. Legal & General Group Plc now owns 165,855 shares of the company’s stock worth $7,646,000 after acquiring an additional 16,186 shares during the last quarter. Kepos Capital LP bought a new stake in Myriad Genetics during the 3rd quarter worth about $3,545,000. Finally, Nordea Investment Management AB grew its holdings in Myriad Genetics by 23.7% during the 3rd quarter. Nordea Investment Management AB now owns 101,483 shares of the company’s stock worth $4,669,000 after acquiring an additional 19,417 shares during the last quarter. 99.80% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Company Profile

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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