BidaskClub upgraded shares of Myriad Genetics, Inc. (NASDAQ:MYGN) from a sell rating to a hold rating in a research report sent to investors on Friday.
A number of other equities analysts have also commented on the stock. Jefferies Group LLC reaffirmed a hold rating and issued a $21.00 price objective (up previously from $18.00) on shares of Myriad Genetics in a research note on Wednesday, May 3rd. Stephens raised shares of Myriad Genetics from an equal weight rating to an overweight rating and set a $20.00 price objective for the company in a research note on Monday, March 13th. Deutsche Bank AG raised their price objective on shares of Myriad Genetics from $15.00 to $20.00 and gave the stock a sell rating in a research note on Monday, May 8th. Cowen and Company reaffirmed a market perform rating and issued a $19.00 price objective on shares of Myriad Genetics in a research note on Tuesday, March 28th. Finally, TheStreet raised shares of Myriad Genetics from a d+ rating to a c rating in a research note on Wednesday, March 1st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Myriad Genetics has an average rating of Hold and an average price target of $23.00.
Shares of Myriad Genetics (NASDAQ MYGN) opened at 22.66 on Friday. The company has a 50-day moving average price of $21.01 and a 200-day moving average price of $18.55. Myriad Genetics has a 1-year low of $15.15 and a 1-year high of $32.97. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 48.42 and a beta of 0.34.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The firm had revenue of $196.90 million for the quarter, compared to analyst estimates of $188.89 million. Myriad Genetics had a net margin of 4.26% and a return on equity of 10.53%. On average, equities analysts expect that Myriad Genetics will post $1.01 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Myriad Genetics during the fourth quarter valued at approximately $14,319,000. Dimensional Fund Advisors LP increased its position in shares of Myriad Genetics by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,654,854 shares of the company’s stock valued at $27,587,000 after buying an additional 204,049 shares during the period. Comerica Bank increased its position in shares of Myriad Genetics by 4.8% in the fourth quarter. Comerica Bank now owns 51,750 shares of the company’s stock valued at $845,000 after buying an additional 2,348 shares during the period. Bank of Montreal Can increased its position in shares of Myriad Genetics by 5.2% in the first quarter. Bank of Montreal Can now owns 112,150 shares of the company’s stock valued at $2,154,000 after buying an additional 5,529 shares during the period. Finally, State Street Corp increased its position in shares of Myriad Genetics by 15.8% in the fourth quarter. State Street Corp now owns 3,589,079 shares of the company’s stock valued at $59,836,000 after buying an additional 488,484 shares during the period.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment 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 to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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