ValuEngine Downgrades Myriad Genetics (MYGN) to Hold

Myriad Genetics (NASDAQ:MYGN) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Other equities research analysts also recently issued reports about the stock. Bank of America lifted their price target on shares of Myriad Genetics from $31.00 to $34.00 and gave the company a “sell” rating in a research report on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Myriad Genetics from a “buy” rating to a “sell” rating in a research report on Monday, August 27th. Barclays reduced their price target on shares of Myriad Genetics from $30.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday, September 11th. Stephens lifted their price target on shares of Myriad Genetics from $45.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, August 22nd. Finally, Piper Jaffray Companies lifted their price target on shares of Myriad Genetics to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.90.

MYGN stock opened at $30.85 on Thursday. Myriad Genetics has a 12-month low of $27.27 and a 12-month high of $50.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.17 and a quick ratio of 2.86. The company has a market cap of $2.45 billion, a PE ratio of 24.31, a P/E/G ratio of 2.02 and a beta of 0.51.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. Myriad Genetics had a net margin of 7.07% and a return on equity of 10.07%. The company had revenue of $202.30 million during the quarter, compared to the consensus estimate of $203.20 million. During the same period last year, the firm earned $0.26 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts forecast that Myriad Genetics will post 1.43 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in shares of Myriad Genetics by 409.3% during the 3rd quarter. FMR LLC now owns 215,441 shares of the company’s stock worth $9,910,000 after purchasing an additional 173,141 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Myriad Genetics during the 3rd quarter worth approximately $806,000. American International Group Inc. increased its stake in shares of Myriad Genetics by 3.3% during the 3rd quarter. American International Group Inc. now owns 52,744 shares of the company’s stock worth $2,426,000 after purchasing an additional 1,684 shares in the last quarter. BlackRock Inc. increased its stake in shares of Myriad Genetics by 3.5% during the 3rd quarter. BlackRock Inc. now owns 11,466,610 shares of the company’s stock worth $527,464,000 after purchasing an additional 383,089 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Myriad Genetics by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 910,032 shares of the company’s stock worth $41,861,000 after purchasing an additional 55,974 shares in the last quarter. 96.75% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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