Myriad Genetics Inc. (NASDAQ:MYGN) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 22,281,030 shares, a drop of 6.6% from the October 31st total of 23,864,590 shares. Approximately 32.9% of the company’s stock are short sold. Based on an average daily volume of 2,452,432 shares, the short-interest ratio is currently 9.1 days.
A number of research analysts have commented on MYGN shares. Ladenburg Thalmann downgraded shares of Myriad Genetics from a “neutral” rating to a “sell” rating and set a $16.00 target price on the stock. in a research report on Monday, October 10th. 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 report on Wednesday, August 10th. Barclays PLC reissued an “equal weight” rating and set a $22.00 target price (down previously from $24.00) on shares of Myriad Genetics in a research report on Monday, October 10th. TheStreet downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Stephens downgraded shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 2nd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $31.00.
Shares of Myriad Genetics (NASDAQ:MYGN) opened at 17.46 on Monday. The firm’s 50-day moving average is $18.31 and its 200 day moving average is $25.44. Myriad Genetics has a 52 week low of $15.92 and a 52 week high of $44.57. The firm has a market capitalization of $1.19 billion, a PE ratio of 13.50 and a beta of 0.42.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.02. Myriad Genetics had a net margin of 11.38% and a return on equity of 13.98%. The firm earned $177.50 million during the quarter, compared to analysts’ expectations of $172.31 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities analysts forecast that Myriad Genetics will post $0.99 earnings per share for the current year.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $20.49, for a total transaction of $614,700.00. Following the transaction, the director now owns 49,493 shares of the company’s stock, valued at approximately $1,014,111.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Myriad Genetics by 2.4% in the second quarter. Vanguard Group Inc. now owns 5,196,666 shares of the company’s stock worth $159,018,000 after buying an additional 121,681 shares during the period. Scopia Capital Management LP acquired a new stake in Myriad Genetics during the third quarter worth approximately $75,316,000. BlackRock Fund Advisors increased its stake in Myriad Genetics by 4.8% in the third quarter. BlackRock Fund Advisors now owns 2,790,235 shares of the company’s stock worth $57,423,000 after buying an additional 127,246 shares during the period. Acadian Asset Management LLC increased its stake in Myriad Genetics by 528.9% in the third quarter. Acadian Asset Management LLC now owns 2,777,044 shares of the company’s stock worth $57,152,000 after buying an additional 2,335,492 shares during the period. Finally, Sterling Capital Management LLC increased its stake in Myriad Genetics by 6.3% in the second quarter. Sterling Capital Management LLC now owns 1,523,758 shares of the company’s stock worth $46,627,000 after buying an additional 90,420 shares during the period.
Myriad Genetics Company Profile