Myriad Genetics Inc. (NASDAQ:MYGN) was downgraded by stock analysts at Ladenburg Thalmann from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday. They presently have a $16.00 price objective on the stock. Ladenburg Thalmann’s price target indicates a potential downside of 16.45% from the stock’s current price.
Several other brokerages have also issued reports on MYGN. Bank of America Corp. lowered shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and set a $25.00 target price on the stock. in a research note on Friday, July 29th. Morgan Stanley cut their target price on shares of Myriad Genetics from $25.00 to $21.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 10th. TheStreet lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Wells Fargo & Co. raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Sunday, August 21st. Finally, Zacks Investment Research lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 16th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Myriad Genetics currently has a consensus rating of “Hold” and an average target price of $31.00.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 19.15 on Monday. Myriad Genetics has a 12-month low of $18.51 and a 12-month high of $46.24. The firm’s 50-day moving average is $20.85 and its 200-day moving average is $29.76. The company has a market capitalization of $1.32 billion, a PE ratio of 11.20 and a beta of 0.54.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. The firm earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. During the same period in the prior year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Myriad Genetics will post $1.07 EPS for the current fiscal year.
In related news, insider Mark Christopher Capone acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was acquired at an average price of $21.24 per share, for a total transaction of $212,400.00. Following the completion of the acquisition, the insider now owns 146,026 shares of the company’s stock, valued at approximately $3,101,592.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $20.49, for a total transaction of $614,700.00. Following the sale, the director now owns 49,493 shares of the company’s stock, valued at approximately $1,014,111.57. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in Myriad Genetics during the first quarter worth about $109,000. Societe Generale bought a new stake in Myriad Genetics during the second quarter worth about $120,000. US Bancorp DE increased its stake in Myriad Genetics by 55.0% in the second quarter. US Bancorp DE now owns 4,122 shares of the company’s stock worth $126,000 after buying an additional 1,462 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Myriad Genetics during the first quarter worth about $148,000. Finally, BlackRock Inc. increased its stake in Myriad Genetics by 123.4% in the first quarter. BlackRock Inc. now owns 4,715 shares of the company’s stock worth $176,000 after buying an additional 2,604 shares during the period.
Myriad Genetics Company Profile