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

Myriad Genetics, Inc. (NASDAQ:MYGN) has been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $27.36.

Several research analysts recently issued reports on the company. Morgan Stanley reduced their target price on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Scotiabank increased their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Piper Sandler dropped their target price on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $16.17 on Wednesday. Myriad Genetics has a 12-month low of $14.72 and a 12-month high of $29.30. The business’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $24.42. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.47 billion, a PE ratio of -12.44 and a beta of 1.93.

Insider Activity

In related news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The trade was a 51.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,012 shares of company stock valued at $1,900,485 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Myriad Genetics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Myriad Genetics by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock valued at $213,961,000 after buying an additional 81,475 shares in the last quarter. American International Group Inc. increased its holdings in Myriad Genetics by 6.8% in the 1st quarter. American International Group Inc. now owns 47,331 shares of the company’s stock worth $1,009,000 after acquiring an additional 3,011 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Myriad Genetics by 7.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 103,498 shares of the company’s stock worth $2,204,000 after acquiring an additional 7,123 shares during the period. Lazard Asset Management LLC lifted its holdings in Myriad Genetics by 74.6% during the first quarter. Lazard Asset Management LLC now owns 21,143 shares of the company’s stock valued at $449,000 after purchasing an additional 9,036 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Myriad Genetics by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,568 shares of the company’s stock valued at $1,143,000 after purchasing an additional 6,337 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

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.