The Myriad Genetics Inc. (MYGN) Rating Reiterated by Barclays PLC

The Myriad Genetics Inc. (MYGN) Rating Reiterated by Barclays PLC

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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