Myriad Genetics, Inc. (NASDAQ:MYGN) Receives Average Recommendation of “Hold” from Brokerages

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

Several research analysts have recently issued reports on MYGN shares. The Goldman Sachs Group increased their price target on Myriad Genetics from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Piper Sandler started coverage on Myriad Genetics in a report on Thursday, December 21st. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, Wells Fargo & Company started coverage on Myriad Genetics in a report on Tuesday, December 19th. They issued an “equal weight” rating and a $20.00 price objective for the company.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds have recently modified their holdings of MYGN. Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 39.6% during the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after purchasing an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Myriad Genetics by 20.4% during the fourth 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Myriad Genetics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after purchasing an additional 789,496 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Myriad Genetics by 29.6% during the first quarter. Bank of America Corp DE now owns 3,432,969 shares of the company’s stock valued at $79,748,000 after purchasing an additional 783,718 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Myriad Genetics by 41.9% during the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock valued at $41,370,000 after purchasing an additional 638,147 shares during the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Trading Down 1.9 %

NASDAQ:MYGN opened at $19.17 on Tuesday. Myriad Genetics has a 1 year low of $13.82 and a 1 year high of $24.21. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -5.99 and a beta of 1.95. The business has a fifty day moving average of $21.82 and a 200-day moving average of $19.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $194.80 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that Myriad Genetics will post -0.36 earnings per share for the current year.

Myriad Genetics Company Profile

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.