Myriad Genetics (NASDAQ:MYGN) Given "Outperform" Rating at Raymond James

Raymond James reissued their outperform rating on shares of Myriad Genetics (NASDAQ:MYGN - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $19.00 target price on the stock, down from their prior target price of $27.00.

A number of other equities analysts have also weighed in on MYGN. Leerink Partners lowered shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Craig Hallum assumed coverage on Myriad Genetics in a research report on Wednesday, February 12th. They set a "buy" rating and a $29.00 price objective for the company. Bank of America dropped their target price on Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating on the stock in a research report on Friday, December 13th. Leerink Partnrs cut Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 9th. Finally, StockNews.com cut shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Myriad Genetics presently has an average rating of "Hold" and an average price target of $22.14.

Myriad Genetics Stock Down 1.5 %

Shares of NASDAQ MYGN traded down $0.18 during mid-day trading on Tuesday, reaching $11.56. 1,749,121 shares of the company's stock were exchanged, compared to its average volume of 1,161,098. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $13.41 and a 200 day simple moving average of $19.27. Myriad Genetics has a twelve month low of $9.76 and a twelve month high of $29.30. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -8.89 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). The company had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same period in the previous year, the firm posted ($0.12) EPS. As a group, equities analysts expect that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its stake in Myriad Genetics by 9.8% in the 3rd quarter. Creative Planning now owns 9,949 shares of the company's stock valued at $273,000 after purchasing an additional 892 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock valued at $87,000 after buying an additional 583 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Myriad Genetics by 182.9% in the third quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company's stock valued at $313,000 after buying an additional 7,381 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Myriad Genetics by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,468 shares of the company's stock worth $478,000 after acquiring an additional 6,834 shares during the period. Finally, New York State Teachers Retirement System increased its holdings in shares of Myriad Genetics by 4.4% during the 3rd 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. 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.