Analysts Set Myriad Genetics, Inc. (NASDAQ:MYGN) PT at $26.60

Myriad Genetics, Inc. (NASDAQ:MYGN – Get Rating) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $26.60.

Several equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Myriad Genetics in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stephens upped their price objective on shares of Myriad Genetics from $17.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, March 6th. Raymond James upped their price objective on shares of Myriad Genetics from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, March 3rd. Finally, The Goldman Sachs Group upgraded shares of Myriad Genetics from a “sell” rating to a “buy” rating and upped their price objective for the stock from $18.00 to $25.00 in a report on Tuesday.

Myriad Genetics Trading Down 3.6 %

MYGN stock opened at $22.12 on Tuesday. The firm’s 50-day moving average price is $21.63 and its two-hundred day moving average price is $19.91. Myriad Genetics has a 12-month low of $13.92 and a 12-month high of $28.18. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -12.29 and a beta of 1.83.

Myriad Genetics (NASDAQ:MYGN – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Myriad Genetics had a negative net margin of 21.05% and a negative return on equity of 7.42%. The company had revenue of $181.20 million for the quarter, compared to analysts’ expectations of $171.56 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. Myriad Genetics’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities analysts predict that Myriad Genetics will post -0.63 EPS for the current year.

Insider Transactions at Myriad Genetics

In related news, COO Nicole Lambert sold 6,433 shares of the stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $23.48, for a total transaction of $151,046.84. Following the transaction, the chief operating officer now owns 240,506 shares in the company, valued at $5,647,080.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Myriad Genetics by 1.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 33,334 shares of the company’s stock worth $606,000 after acquiring an additional 509 shares during the period. Royal Bank of Canada increased its stake in shares of Myriad Genetics by 29.0% in the third quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock worth $44,000 after purchasing an additional 526 shares in the last quarter. US Bancorp DE increased its stake in shares of Myriad Genetics by 14.6% in the first quarter. US Bancorp DE now owns 4,243 shares of the company’s stock worth $108,000 after purchasing an additional 541 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Myriad Genetics by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 56,426 shares of the company’s stock worth $818,000 after purchasing an additional 600 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Myriad Genetics by 3.2% in the first quarter. Arizona State Retirement System now owns 23,479 shares of the company’s stock worth $545,000 after purchasing an additional 726 shares in the last quarter. Institutional investors own 99.08% of the company’s stock.

Myriad Genetics Company Profile

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Myriad Genetics, Inc engages in the discovery, development, and marketing of transformative molecular diagnostic tests. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk of developing a disease later in life.