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

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) have earned a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $27.36.

Several analysts have recently issued reports on MYGN shares. Piper Sandler decreased 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. TD Cowen raised their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Scotiabank raised their price target on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Finally, StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

Myriad Genetics Price Performance

Myriad Genetics stock opened at $16.17 on Wednesday. Myriad Genetics has a 52-week low of $14.72 and a 52-week high of $29.30. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $22.02 and its 200 day moving average is $24.42. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -12.44 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the transaction, the chief executive officer now owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The trade was a 51.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock worth $1,900,485 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

Several hedge funds have recently modified their holdings of MYGN. Loomis Sayles & Co. L P raised its stake in Myriad Genetics by 153.7% in the third quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock worth $59,973,000 after buying an additional 1,326,497 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after acquiring an additional 440,107 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Myriad Genetics during the 3rd quarter worth $11,007,000. State Street Corp boosted its position in Myriad Genetics by 8.3% during the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after purchasing an additional 359,685 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Myriad Genetics by 26.7% in the third quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after purchasing an additional 224,255 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

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.