Myriad Genetics (MYGN) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a sell rating in a research report report published on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on MYGN. Zacks Investment Research cut shares of Myriad Genetics from a strong-buy rating to a hold rating in a research note on Tuesday, January 8th. BidaskClub upgraded shares of Myriad Genetics from a hold rating to a buy rating in a research note on Wednesday, February 20th. Finally, Needham & Company LLC restated a strong-buy rating and set a $41.00 price objective (up from $37.00) on shares of Myriad Genetics in a research note on Tuesday, March 12th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Myriad Genetics presently has an average rating of Hold and a consensus price target of $40.19.

MYGN stock opened at $28.04 on Wednesday. Myriad Genetics has a 1 year low of $26.02 and a 1 year high of $50.44. The company has a current ratio of 3.15, a quick ratio of 2.68 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.66 and a beta of 0.55.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The company had revenue of $216.60 million for the quarter, compared to the consensus estimate of $217.76 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Myriad Genetics’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, analysts predict that Myriad Genetics will post 1.44 EPS for the current year.

In related news, insider Ralph L. Mcdade sold 1,975 shares of Myriad Genetics stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $31.00, for a total transaction of $61,225.00. Following the sale, the insider now directly owns 122,604 shares in the company, valued at $3,800,724. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.80% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in Myriad Genetics by 0.6% during the first quarter. New York State Teachers Retirement System now owns 50,798 shares of the company’s stock worth $1,686,000 after acquiring an additional 307 shares during the period. Mason Street Advisors LLC grew its holdings in Myriad Genetics by 1.4% during the first quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock worth $781,000 after acquiring an additional 315 shares during the period. LeJeune Puetz Investment Counsel LLC grew its holdings in Myriad Genetics by 1.6% during the fourth quarter. LeJeune Puetz Investment Counsel LLC now owns 24,925 shares of the company’s stock worth $725,000 after acquiring an additional 400 shares during the period. Taylor Frigon Capital Management LLC grew its holdings in Myriad Genetics by 1.2% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 40,426 shares of the company’s stock worth $1,175,000 after acquiring an additional 497 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Myriad Genetics by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,955 shares of the company’s stock worth $961,000 after acquiring an additional 523 shares during the period. 99.22% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

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