Myriad Genetics (NASDAQ:MYGN) Cut to “Hold” at StockNews.com

Myriad Genetics (NASDAQ:MYGN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other equities research analysts also recently commented on the company. Stephens reissued an “equal weight” rating and issued a $20.00 price objective on shares of Myriad Genetics in a report on Thursday, January 16th. Raymond James reissued an “outperform” rating and set a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a report on Wednesday. Guggenheim lowered shares of Myriad Genetics from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 9th. Bank of America cut their price objective on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Monday, March 3rd. Finally, Scotiabank lowered their target price on shares of Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.04.

Myriad Genetics Price Performance

Shares of MYGN opened at $3.89 on Thursday. The firm has a market capitalization of $358.55 million, a PE ratio of -2.99 and a beta of 2.01. Myriad Genetics has a 52-week low of $3.86 and a 52-week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $12.57.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $195.90 million for the quarter, compared to analyst estimates of $200.37 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. Myriad Genetics’s revenue for the quarter was down 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) EPS. Sell-side analysts predict that Myriad Genetics will post -0.3 EPS for the current fiscal year.

Institutional Trading of Myriad Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC raised its stake in Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after acquiring an additional 2,556 shares in the last quarter. GAMMA Investing LLC increased its position in Myriad Genetics by 520.8% during the 1st quarter. GAMMA Investing LLC now owns 4,470 shares of the company’s stock worth $40,000 after purchasing an additional 3,750 shares in the last quarter. KBC Group NV lifted its stake in Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock valued at $80,000 after purchasing an additional 3,334 shares during the last quarter. CWM LLC boosted its position in Myriad Genetics by 600.2% in the first quarter. CWM LLC now owns 9,796 shares of the company’s stock valued at $87,000 after buying an additional 8,397 shares in the last quarter. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Myriad Genetics during the first quarter worth $93,000. 99.02% of the stock is currently owned by institutional investors.

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.