Myriad Genetics (NASDAQ:MYGN) Downgraded by StockNews.com to "Hold"

Myriad Genetics (NASDAQ:MYGN - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research firms also recently weighed in on MYGN. Craig Hallum started coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They set a "buy" rating and a $29.00 price target for the company. Raymond James reissued an "outperform" rating and set a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. UBS Group decreased their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. Leerink Partnrs downgraded shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 9th. Finally, Bank of America decreased their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating for the company in a research report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Myriad Genetics has an average rating of "Hold" and a consensus price target of $21.82.

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Myriad Genetics Stock Up 0.3 %

NASDAQ:MYGN traded up $0.03 during trading hours on Friday, hitting $10.42. The stock had a trading volume of 1,103,423 shares, compared to its average volume of 1,174,611. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 1-year low of $9.76 and a 1-year high of $29.30. The business has a 50 day simple moving average of $13.15 and a two-hundred day simple moving average of $18.66. The company has a market cap of $948.58 million, a PE ratio of -8.02 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The firm had revenue of $210.60 million during the quarter, compared to analyst estimates of $210.35 million. During the same period last year, the business earned ($0.12) EPS. Analysts predict that Myriad Genetics will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Myriad Genetics

Several institutional investors have recently modified their holdings of MYGN. Creative Planning grew its position in shares of Myriad Genetics by 9.8% during the third quarter. Creative Planning now owns 9,949 shares of the company's stock worth $273,000 after acquiring an additional 892 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Myriad Genetics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock worth $87,000 after acquiring an additional 583 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Myriad Genetics by 182.9% during the third quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company's stock worth $313,000 after acquiring an additional 7,381 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Myriad Genetics by 4.4% during the third quarter. New York State Teachers Retirement System now owns 73,900 shares of the company's stock worth $2,024,000 after acquiring an additional 3,102 shares during the last quarter. Finally, Atria Investments Inc grew its position in shares of Myriad Genetics by 5.4% during the third quarter. Atria Investments Inc now owns 11,414 shares of the company's stock worth $313,000 after acquiring an additional 581 shares during the last quarter. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.