Myriad Genetics (NASDAQ:MYGN) released its quarterly earnings data on Tuesday. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01, RTT News reports. Myriad Genetics had a net margin of 0.54% and a return on equity of 9.10%. The firm had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $221.64 million. During the same period in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year.
Shares of Myriad Genetics stock opened at $23.20 on Friday. The firm has a 50-day moving average of $32.08 and a 200-day moving average of $30.07. The stock has a market cap of $3.27 billion, a PE ratio of 17.98, a PEG ratio of 2.10 and a beta of 0.81. Myriad Genetics has a 52-week low of $22.07 and a 52-week high of $50.44. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.86 and a current ratio of 3.15.
A number of equities analysts have commented on MYGN shares. Barclays cut shares of Myriad Genetics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. Bank of America raised shares of Myriad Genetics from an “underperform” rating to a “neutral” rating in a research report on Friday, August 2nd. BidaskClub cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Friday. Cowen cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and set a $26.64 price objective for the company. in a research report on Tuesday, July 9th. Finally, Deutsche Bank reduced their price objective on shares of Myriad Genetics from $45.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.64.
Several institutional investors have recently made changes to their positions in MYGN. Pearl River Capital LLC boosted its position in shares of Myriad Genetics by 154.9% in the first quarter. Pearl River Capital LLC now owns 882 shares of the company’s stock valued at $30,000 after acquiring an additional 536 shares during the period. Investors Research Corp acquired a new position in Myriad Genetics in the first quarter valued at about $46,000. Financial Gravity Wealth Inc. acquired a new position in Myriad Genetics in the first quarter valued at about $56,000. NumerixS Investment Technologies Inc acquired a new position in Myriad Genetics in the second quarter valued at about $64,000. Finally, Nisa Investment Advisors LLC raised its stake in Myriad Genetics by 625.0% in the first quarter. Nisa Investment Advisors LLC now owns 2,320 shares of the company’s stock valued at $77,000 after purchasing an additional 2,000 shares in the last quarter. 99.22% of the stock is owned by institutional investors.
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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