Myriad Genetics (NASDAQ:MYGN) Cut to Sell at BidaskClub

BidaskClub cut shares of Myriad Genetics (NASDAQ:MYGN) from a hold rating to a sell rating in a report published on Friday morning, BidAskClub reports.

MYGN has been the subject of a number of other research reports. Needham & Company LLC reissued a hold rating on shares of Myriad Genetics in a report on Friday, August 14th. ValuEngine raised Myriad Genetics from a buy rating to a strong-buy rating in a report on Tuesday, September 1st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $18.75.

Shares of Myriad Genetics stock opened at $13.01 on Friday. The business has a fifty day simple moving average of $12.95 and a two-hundred day simple moving average of $13.37. Myriad Genetics has a 1 year low of $9.24 and a 1 year high of $35.29. The company has a market capitalization of $971.96 million, a price-to-earnings ratio of -4.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.26 and a quick ratio of 2.06.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Thursday, August 13th. The company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.16. Myriad Genetics had a negative return on equity of 2.69% and a negative net margin of 31.24%. The company had revenue of $93.20 million during the quarter, compared to the consensus estimate of $95.44 million. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, equities analysts anticipate that Myriad Genetics will post -0.54 earnings per share for the current fiscal year.

In related news, COO Alexander Ford sold 2,804 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $13.78, for a total value of $38,639.12. Following the completion of the transaction, the chief operating officer now owns 151,159 shares of the company’s stock, valued at $2,082,971.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. acquired a new position in Myriad Genetics in the first quarter valued at about $183,000. Pacer Advisors Inc. bought a new position in Myriad Genetics in the third quarter valued at about $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Myriad Genetics by 25.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,631 shares of the company’s stock valued at $75,000 after acquiring an additional 1,326 shares during the last quarter. Fifth Third Bancorp grew its position in Myriad Genetics by 112.1% in the second quarter. Fifth Third Bancorp now owns 7,030 shares of the company’s stock valued at $80,000 after acquiring an additional 3,715 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new position in Myriad Genetics in the first quarter valued at about $136,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, develops and markets predictive, personalized, and prognostic medicine tests in the United States and internationally. The company offers 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; and riskScore, a personalized medicine tool.

Read More: What is intrinsic value?

Analyst Recommendations for Myriad Genetics (NASDAQ:MYGN)

Receive News & Ratings for Myriad Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics and related companies with MarketBeat.com's FREE daily email newsletter.