Barclays PLC restated their equal weight rating on shares of Myriad Genetics Inc. (NASDAQ:MYGN) in a research report report published on Monday morning. The firm currently has a $22.00 price objective on the stock, down from their prior price objective of $24.00.
Several other analysts have also commented on the company. Ladenburg Thalmann lowered Myriad Genetics from a neutral rating to a sell rating and set a $16.00 price objective for the company. in a report on Monday. Bank of America Corp. lowered Myriad Genetics from a neutral rating to an underperform rating and set a $25.00 price objective for the company. in a report on Friday, July 29th. Morgan Stanley cut their price objective on Myriad Genetics from $25.00 to $21.00 and set an underweight rating for the company in a report on Wednesday, August 10th. TheStreet lowered Myriad Genetics from a buy rating to a hold rating in a report on Wednesday, August 10th. Finally, Wells Fargo & Co. upgraded Myriad Genetics from a market perform rating to an outperform rating in a research report on Sunday, August 21st. Four investment 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 presently has an average rating of Hold and a consensus target price of $31.00.
Myriad Genetics (NASDAQ:MYGN) opened at 18.62 on Monday. The firm has a 50-day moving average price of $20.72 and a 200-day moving average price of $29.61. Myriad Genetics has a 52 week low of $17.66 and a 52 week high of $46.24. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.89 and a beta of 0.54.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. The firm earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Analysts anticipate that Myriad Genetics will post $1.07 EPS for the current fiscal year.
In other news, Director John T. Henderson sold 30,000 shares of Myriad Genetics stock in a transaction on Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the completion of the sale, the director now directly owns 49,493 shares of the company’s stock, valued at approximately $1,014,111.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Christopher Capone acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were purchased at an average cost of $21.24 per share, with a total value of $212,400.00. Following the completion of the transaction, the insider now owns 146,026 shares in the company, valued at approximately $3,101,592.24. The disclosure for this purchase can be found here. Insiders own 5.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in shares of Myriad Genetics during the second quarter worth $27,284,000. Rice Hall James & Associates LLC bought a new stake in shares of Myriad Genetics during the second quarter worth $16,101,000. River Road Asset Management LLC bought a new stake in shares of Myriad Genetics during the second quarter worth $12,259,000. First Eagle Investment Management LLC bought a new stake in shares of Myriad Genetics during the second quarter worth $11,291,000. Finally, Numeric Investors LLC boosted its stake in shares of Myriad Genetics by 586.6% in the second quarter. Numeric Investors LLC now owns 409,200 shares of the company’s stock worth $12,522,000 after buying an additional 349,600 shares during the period.
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