Analysts Set Myriad Genetics, Inc. (MYGN) Target Price at $29.64

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have been given an average recommendation of “Hold” by the fifteen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.45.

A number of research analysts have recently commented on the stock. Leerink Swann upped their price target on shares of Myriad Genetics from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Wednesday. BidaskClub raised shares of Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. Morgan Stanley upped their price objective on shares of Myriad Genetics from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday. BTIG Research set a $44.00 price objective on shares of Myriad Genetics and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank upped their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th.

Myriad Genetics (NASDAQ:MYGN) traded down $0.15 during midday trading on Tuesday, hitting $32.47. 468,889 shares of the stock were exchanged, compared to its average volume of 772,675. The company has a current ratio of 2.05, a quick ratio of 2.06 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2,220.00, a PE ratio of 17.59, a PEG ratio of 2.00 and a beta of 0.32. Myriad Genetics has a 12-month low of $15.98 and a 12-month high of $41.57.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. The firm had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $188.72 million. Myriad Genetics had a net margin of 16.67% and a return on equity of 9.59%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. research analysts forecast that Myriad Genetics will post 1.13 earnings per share for the current year.

In related news, VP Richard M. Marsh sold 37,654 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $40.25, for a total value of $1,515,573.50. Following the completion of the sale, the vice president now directly owns 157,648 shares of the company’s stock, valued at $6,345,332. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard M. Marsh sold 13,759 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $36.25, for a total transaction of $498,763.75. Following the sale, the vice president now directly owns 136,385 shares of the company’s stock, valued at $4,943,956.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,064 shares of company stock valued at $2,679,097. 6.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its position in shares of Myriad Genetics by 1,067.4% during the third quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after buying an additional 3,010 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of Myriad Genetics by 88.5% during the fourth quarter. LS Investment Advisors LLC now owns 4,791 shares of the company’s stock valued at $165,000 after buying an additional 2,250 shares during the last quarter. Tiedemann Wealth Management LLC lifted its position in shares of Myriad Genetics by 67.0% during the third quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after buying an additional 5,475 shares during the last quarter. Commonwealth Equity Services Inc purchased a new stake in shares of Myriad Genetics during the third quarter valued at about $202,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Myriad Genetics during the third quarter valued at about $204,000.

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About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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