Myriad Genetics (NASDAQ:MYGN) Shares Gap Up to $25.35

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) gapped up before the market opened on Monday . The stock had previously closed at $26.84, but opened at $25.35. Myriad Genetics shares last traded at $24.74, with a volume of 29,580 shares changing hands.

Several brokerages have recently issued reports on MYGN. ValuEngine upgraded Myriad Genetics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cowen cut Myriad Genetics from an “outperform” rating to a “market perform” rating and set a $26.64 price target on the stock. in a research report on Tuesday, July 9th. BidaskClub cut Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded Myriad Genetics from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research report on Monday, July 1st. Finally, Bank of America upgraded Myriad Genetics from an “underperform” rating to a “neutral” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Myriad Genetics currently has an average rating of “Hold” and an average price target of $37.64.

The company has a current ratio of 2.96, a quick ratio of 2.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.21 and a beta of 0.81. The stock has a fifty day moving average of $31.90 and a 200-day moving average of $29.97.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $215.40 million for the quarter, compared to analysts’ expectations of $221.64 million. Myriad Genetics had a return on equity of 9.09% and a net margin of 0.54%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. As a group, equities research analysts forecast that Myriad Genetics, Inc. will post 1.53 earnings per share for the current fiscal year.

In other news, CFO Richard Bryan Riggsbee sold 25,000 shares of Myriad Genetics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $41.50, for a total transaction of $1,037,500.00. Following the transaction, the chief financial officer now owns 120,566 shares in the company, valued at $5,003,489. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard Tobin sold 11,712 shares of Myriad Genetics stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $40.00, for a total value of $468,480.00. Following the transaction, the insider now owns 146,040 shares in the company, valued at approximately $5,841,600. The disclosure for this sale can be found here. Insiders sold a total of 96,712 shares of company stock worth $4,115,380 over the last 90 days. Insiders own 5.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Neuburgh Advisers LLC boosted its position in Myriad Genetics by 4.5% during the second quarter. Neuburgh Advisers LLC now owns 7,040 shares of the company’s stock valued at $196,000 after purchasing an additional 304 shares during the last quarter. New York State Teachers Retirement System boosted its position 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 valued at $1,686,000 after purchasing an additional 307 shares during the last quarter. Mason Street Advisors LLC boosted its position in Myriad Genetics by 1.4% during the first quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock valued at $781,000 after purchasing an additional 315 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Myriad Genetics by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,920 shares of the company’s stock valued at $609,000 after purchasing an additional 380 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Myriad Genetics by 5.3% during the second quarter. Riverhead Capital Management LLC now owns 7,898 shares of the company’s stock valued at $219,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Myriad Genetics Company Profile (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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