ValuEngine Downgrades Myriad Genetics (NASDAQ:MYGN) to Sell

ValuEngine cut shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a sell rating in a research report report published on Wednesday, May 8th, ValuEngine reports.

A number of other equities research analysts also recently issued reports on the stock. BidaskClub raised shares of Myriad Genetics from a sell rating to a hold rating in a report on Saturday, May 4th. Needham & Company LLC reaffirmed a strong-buy rating and issued a $41.00 target price (up from $37.00) on shares of Myriad Genetics in a research note on Tuesday, March 12th. Finally, Zacks Investment Research downgraded shares of Myriad Genetics from a buy rating to a hold rating in a research note on Friday, February 1st. Four analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $38.52.

NASDAQ:MYGN traded down $0.26 on Wednesday, reaching $24.07. 2,982 shares of the company’s stock were exchanged, compared to its average volume of 1,199,956. The company has a quick ratio of 2.86, a current ratio of 3.15 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.78 billion, a PE ratio of 20.05, a P/E/G ratio of 1.41 and a beta of 0.55. Myriad Genetics has a 52 week low of $23.08 and a 52 week high of $50.44.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Myriad Genetics had a return on equity of 9.82% and a net margin of 2.62%. The business had revenue of $216.60 million for the quarter, compared to the consensus estimate of $217.76 million. During the same quarter in the prior year, the business earned $0.34 EPS. Myriad Genetics’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts anticipate that Myriad Genetics will post 1.44 earnings per share for the current fiscal year.

In other news, insider Ralph L. Mcdade sold 1,975 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $31.00, for a total value of $61,225.00. Following the transaction, the insider now owns 122,604 shares in the company, valued at $3,800,724. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in Myriad Genetics by 8.0% in the fourth quarter. California State Teachers Retirement System now owns 109,819 shares of the company’s stock valued at $3,192,000 after acquiring an additional 8,114 shares in the last quarter. CWM LLC boosted its holdings in shares of Myriad Genetics by 21.3% during the 4th quarter. CWM LLC now owns 382,177 shares of the company’s stock valued at $11,110,000 after buying an additional 67,211 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Myriad Genetics by 8.3% during the 4th quarter. Bank of New York Mellon Corp now owns 985,904 shares of the company’s stock valued at $28,660,000 after buying an additional 75,872 shares in the last quarter. Falcon Point Capital LLC bought a new stake in shares of Myriad Genetics during the 4th quarter valued at $2,091,000. Finally, Vanguard Group Inc boosted its holdings in shares of Myriad Genetics by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 8,656,933 shares of the company’s stock valued at $398,219,000 after buying an additional 365,697 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

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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