Leerink Swann Reaffirms “Market Perform” Rating for Myriad Genetics, Inc. (MYGN)
Leerink Swann reaffirmed their market perform rating on shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in a report released on Monday morning, MarketBeat Ratings reports. The firm currently has a $31.00 price objective on the stock. Leerink Swann also issued estimates for Myriad Genetics’ Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.03 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.30 EPS and FY2019 earnings at $1.13 EPS.
Other research analysts have also issued research reports about the company. BidaskClub raised Myriad Genetics from a hold rating to a buy rating in a report on Saturday, August 12th. Zacks Investment Research raised Myriad Genetics from a hold rating to a buy rating and set a $28.00 price objective on the stock in a report on Monday, July 17th. Barclays PLC dropped their price objective on Myriad Genetics from $28.00 to $26.00 and set an equal weight rating on the stock in a report on Wednesday, August 9th. Cowen and Company reaffirmed a hold rating and set a $25.00 price objective on shares of Myriad Genetics in a report on Monday, August 14th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $24.20.
Shares of Myriad Genetics (MYGN) opened at 36.37 on Monday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 114.01 and a beta of 0.28. Myriad Genetics has a 52-week low of $15.15 and a 52-week high of $37.14. The firm has a 50-day moving average price of $32.17 and a 200 day moving average price of $24.72.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The firm had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Myriad Genetics’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts expect that Myriad Genetics will post $1.02 earnings per share for the current year.
In other news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.30, for a total value of $909,000.00. Following the sale, the director now directly owns 52,524 shares in the company, valued at $1,591,477.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.20% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. CS Mckee LP lifted its position in shares of Myriad Genetics by 0.3% in the second quarter. CS Mckee LP now owns 30,000 shares of the company’s stock valued at $775,000 after acquiring an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Myriad Genetics by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock valued at $416,000 after acquiring an additional 490 shares in the last quarter. Aperio Group LLC lifted its position in shares of Myriad Genetics by 4.6% in the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock valued at $313,000 after acquiring an additional 534 shares in the last quarter. LeJeune Puetz Investment Counsel LLC lifted its position in shares of Myriad Genetics by 3.3% in the second quarter. LeJeune Puetz Investment Counsel LLC now owns 31,025 shares of the company’s stock valued at $802,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Myriad Genetics by 1.1% in the first quarter. Teachers Advisors LLC now owns 116,924 shares of the company’s stock valued at $2,245,000 after acquiring an additional 1,287 shares in the last quarter.
Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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