Myriad Genetics, Inc. (NASDAQ:MYGN) Given Consensus Rating of “Hold” by Brokerages

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned an average rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.17.

Separately, The Goldman Sachs Group lifted their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th.

Myriad Genetics Trading Down 0.1 %

MYGN opened at $18.49 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01. The stock’s 50 day moving average price is $21.45 and its 200-day moving average price is $19.55. Myriad Genetics has a one year low of $13.82 and a one year high of $24.21. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -5.78 and a beta of 1.95.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company had revenue of $196.60 million for the quarter, compared to the consensus estimate of $194.80 million. During the same quarter in the prior year, the company posted ($0.20) EPS. Myriad Genetics’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts forecast that Myriad Genetics will post -0.36 EPS for the current year.

Institutional Trading of Myriad Genetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYGN. Allspring Global Investments Holdings LLC lifted its position in Myriad Genetics by 90.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after purchasing an additional 4,193 shares during the period. Vanguard Group Inc. boosted its position in Myriad Genetics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after purchasing an additional 789,496 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Myriad Genetics by 10.7% during the 4th quarter. Fisher Asset Management LLC now owns 157,969 shares of the company’s stock worth $3,024,000 after purchasing an additional 15,313 shares during the period. Wellington Management Group LLP increased its holdings in shares of Myriad Genetics by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after purchasing an additional 1,223,446 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Myriad Genetics in the 4th quarter valued at $428,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.