Myriad Genetics (NASDAQ:MYGN) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Myriad Genetics (NASDAQ:MYGN - Free Report) in a research report report published on Thursday, MarketBeat reports. The firm issued an equal weight rating and a $32.00 price target on the stock.

A number of other equities analysts have also recently weighed in on MYGN. Jefferies Financial Group reaffirmed an underperform rating and set a $20.00 price objective (down previously from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They set an overweight rating and a $35.00 target price on the stock. TD Cowen upped their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a hold rating in a research report on Wednesday, August 7th. Piper Sandler boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a neutral rating in a research note on Tuesday, August 13th. Finally, Scotiabank upped their price target on Myriad Genetics from $29.00 to $34.00 and gave the stock a sector outperform rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $28.91.

Myriad Genetics Trading Down 0.6 %

Shares of NASDAQ MYGN traded down $0.18 during midday trading on Thursday, reaching $28.29. 662,280 shares of the stock were exchanged, compared to its average volume of 720,120. Myriad Genetics has a twelve month low of $13.82 and a twelve month high of $29.30. The stock has a market capitalization of $2.56 billion, a P/E ratio of -10.09 and a beta of 1.92. The company has a 50 day simple moving average of $27.42 and a 200 day simple moving average of $24.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96.

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

Insider Transactions at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 42,533 shares of the company's stock, valued at $1,188,797.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the sale, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of the company's stock in a transaction on Monday, September 9th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Glenview Capital Management LLC raised its holdings in shares of Myriad Genetics by 39.6% in the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company's stock valued at $101,135,000 after buying an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP increased its stake in Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company's stock valued at $138,185,000 after buying an additional 1,223,446 shares during the period. Vanguard Group Inc. raised its position in Myriad Genetics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company's stock worth $190,524,000 after buying an additional 789,496 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Myriad Genetics by 41.9% in the 4th quarter. Sei Investments Co. now owns 2,161,434 shares of the company's stock worth $41,370,000 after acquiring an additional 638,147 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Myriad Genetics by 80.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company's stock valued at $7,620,000 after acquiring an additional 149,234 shares in the last quarter. Hedge funds and other 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.