Myriad Genetics (NASDAQ:MYGN) Downgraded by Guggenheim to "Neutral"

Myriad Genetics (NASDAQ:MYGN - Get Free Report) was downgraded by equities research analysts at Guggenheim from a "buy" rating to a "neutral" rating in a report issued on Wednesday, Marketbeat.com reports.

Several other analysts have also commented on MYGN. The Goldman Sachs Group lowered their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They set a "buy" rating and a $29.00 price target for the company. UBS Group reduced their price objective on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Scotiabank cut their price objective on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Bank of America reduced their target price on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Myriad Genetics has an average rating of "Hold" and an average target price of $20.89.

Myriad Genetics Stock Performance

NASDAQ MYGN traded up $0.02 on Wednesday, hitting $8.02. 275,862 shares of the company's stock were exchanged, compared to its average volume of 898,243. The firm has a market cap of $732.30 million, a price-to-earnings ratio of -6.17 and a beta of 1.87. The firm's 50-day moving average price is $10.71 and its two-hundred day moving average price is $14.91. Myriad Genetics has a fifty-two week low of $7.35 and a fifty-two week high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). The firm had revenue of $210.60 million for 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 in the previous year, the firm posted ($0.12) earnings per share. On average, research analysts expect that Myriad Genetics will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Myriad Genetics

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after purchasing an additional 2,556 shares during the period. GAMMA Investing LLC boosted its stake in Myriad Genetics by 520.8% in the first quarter. GAMMA Investing LLC now owns 4,470 shares of the company's stock valued at $40,000 after acquiring an additional 3,750 shares during the period. KBC Group NV grew its holdings in shares of Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after purchasing an additional 3,334 shares during the last quarter. Inspire Advisors LLC lifted its holdings in shares of Myriad Genetics by 48.1% in the 4th quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock worth $154,000 after purchasing an additional 3,644 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in Myriad Genetics during the 4th quarter worth $161,000. 99.02% of the stock is currently owned by institutional investors.

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.