Myriad Genetics (MYGN) Shares Gap Down to $32.82

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) gapped down before the market opened on Thursday . The stock had previously closed at $30.31, but opened at $32.82. Myriad Genetics shares last traded at $32.23, with a volume of 626110 shares changing hands.

MYGN has been the topic of several analyst reports. Piper Jaffray Companies raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $53.00 in a research report on Wednesday, October 10th. Barclays lifted their price target on shares of Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 22nd. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, August 24th. ValuEngine lowered shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, BidaskClub lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Myriad Genetics has a consensus rating of “Hold” and a consensus price target of $41.90.

The stock has a market cap of $2.45 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.02 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.86 and a current ratio of 3.17.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $202.30 million for the quarter, compared to analyst estimates of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. As a group, analysts predict that Myriad Genetics, Inc. will post 1.43 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in Myriad Genetics by 2.6% in the third quarter. Acadian Asset Management LLC now owns 2,387,166 shares of the company’s stock valued at $109,812,000 after purchasing an additional 59,446 shares during the period. GHP Investment Advisors Inc. raised its position in Myriad Genetics by 4.5% in the second quarter. GHP Investment Advisors Inc. now owns 53,290 shares of the company’s stock valued at $1,991,000 after purchasing an additional 2,305 shares during the period. United Services Automobile Association raised its position in Myriad Genetics by 206.8% in the second quarter. United Services Automobile Association now owns 104,981 shares of the company’s stock valued at $1,916,000 after purchasing an additional 70,766 shares during the period. Swiss National Bank raised its position in Myriad Genetics by 2.6% in the second quarter. Swiss National Bank now owns 121,600 shares of the company’s stock valued at $4,544,000 after purchasing an additional 3,100 shares during the period. Finally, State of Wisconsin Investment Board grew its stake in shares of Myriad Genetics by 4.7% in the second quarter. State of Wisconsin Investment Board now owns 66,800 shares of the company’s stock worth $2,496,000 after acquiring an additional 3,000 shares in the last quarter. 96.75% of the stock is currently owned by institutional investors.

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About Myriad Genetics (NASDAQ:MYGN)

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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