Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) shares hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.76 and last traded at $11.63, with a volume of 405660 shares trading hands. The stock had previously closed at $13.78.
The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $210.60 million during the quarter, compared to analysts' expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter last year, the company earned ($0.12) earnings per share.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. StockNews.com downgraded Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Stephens reaffirmed an "equal weight" rating and set a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. The Goldman Sachs Group reduced their price objective on shares of Myriad Genetics from $29.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Leerink Partners downgraded shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, UBS Group dropped their target price on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Myriad Genetics presently has an average rating of "Hold" and an average target price of $22.14.
Read Our Latest Research Report on Myriad Genetics
Institutional Trading of Myriad Genetics
A number of institutional investors have recently bought and sold shares of MYGN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Myriad Genetics by 43.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,229 shares of the company's stock worth $3,910,000 after acquiring an additional 86,973 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Myriad Genetics in the fourth quarter worth about $1,635,000. Squarepoint Ops LLC boosted its position in shares of Myriad Genetics by 27.0% during the fourth quarter. Squarepoint Ops LLC now owns 138,869 shares of the company's stock valued at $1,904,000 after buying an additional 29,524 shares during the period. Twinbeech Capital LP bought a new position in shares of Myriad Genetics during the fourth quarter valued at approximately $562,000. Finally, Rafferty Asset Management LLC raised its holdings in shares of Myriad Genetics by 50.4% in the fourth quarter. Rafferty Asset Management LLC now owns 166,138 shares of the company's stock worth $2,278,000 after buying an additional 55,690 shares during the period. 99.02% of the stock is currently owned by institutional investors.
Myriad Genetics Price Performance
The stock has a market capitalization of $1.05 billion, a P/E ratio of -8.89 and a beta of 1.88. The stock has a 50 day moving average of $13.41 and a 200-day moving average of $19.27. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.
About Myriad Genetics
(
Get Free Report)
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.
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