Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Consensus Rating of "Hold" from Brokerages

Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) has received an average recommendation of "Hold" from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $28.60.

MYGN has been the topic of several recent analyst reports. Scotiabank raised their price objective on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 7th. TD Cowen lifted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated an "underperform" rating and set a $20.00 target price (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Finally, Wells Fargo & Company started coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price for the company.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now owns 121,648 shares of the company's stock, valued at approximately $3,290,578.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Heinrich Dreismann sold 10,000 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the transaction, the director now owns 121,648 shares of the company's stock, valued at $3,290,578.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares of the company's stock, valued at approximately $1,188,797.35. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its stake in shares of Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock valued at $28,000 after purchasing an additional 491 shares during the period. Amalgamated Bank boosted its stake in shares of Myriad Genetics by 2.2% during the fourth quarter. Amalgamated Bank now owns 32,359 shares of the company's stock valued at $619,000 after purchasing an additional 692 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Myriad Genetics by 9.0% in the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company's stock worth $186,000 after acquiring an additional 720 shares during the period. Arizona State Retirement System lifted its stake in Myriad Genetics by 3.4% in the second quarter. Arizona State Retirement System now owns 25,160 shares of the company's stock worth $615,000 after acquiring an additional 829 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Myriad Genetics by 1.5% in the second quarter. Federated Hermes Inc. now owns 56,807 shares of the company's stock worth $1,389,000 after acquiring an additional 846 shares during the period. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Stock Up 4.5 %

NASDAQ:MYGN traded up $1.20 during trading hours on Friday, hitting $27.59. 733,028 shares of the company traded hands, compared to its average volume of 720,466. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The firm's 50-day simple moving average is $27.23 and its 200-day simple moving average is $23.90. Myriad Genetics has a one year low of $13.82 and a one year high of $29.08. The company has a market cap of $2.51 billion, a PE ratio of -9.78 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The business had revenue of $211.50 million for the quarter, compared to analysts' expectations of $206.44 million. During the same period last year, the business earned ($0.21) EPS. The business's revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Myriad Genetics will post -0.34 earnings per share for the current year.

About Myriad Genetics

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.