Raymond James Reiterates “Outperform” Rating for Myriad Genetics (NASDAQ:MYGN)

Raymond James reissued their outperform rating on shares of Myriad Genetics (NASDAQ:MYGN) in a report published on Tuesday morning,Benzinga reports. They currently have a $19.00 price objective on the stock, down from their prior price objective of $27.00.

Other equities analysts also recently issued research reports about the stock. UBS Group reduced their price target on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday. The Goldman Sachs Group reduced their target price on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, Stephens restated an “equal weight” rating and issued a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.14.

Myriad Genetics Price Performance

MYGN opened at $11.07 on Tuesday. 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 company’s 50-day moving average price is $13.33 and its 200 day moving average price is $19.16. Myriad Genetics has a fifty-two week low of $9.76 and a fifty-two week high of $29.30. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -8.52 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. As a group, sell-side analysts expect that Myriad Genetics will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Myriad Genetics

Several large investors have recently made changes to their positions in the business. Creative Planning lifted its stake in Myriad Genetics by 9.8% during the third quarter. Creative Planning now owns 9,949 shares of the company’s stock valued at $273,000 after purchasing an additional 892 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Myriad Genetics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after acquiring an additional 583 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Myriad Genetics by 182.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,417 shares of the company’s stock worth $313,000 after acquiring an additional 7,381 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Myriad Genetics by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,468 shares of the company’s stock worth $478,000 after acquiring an additional 6,834 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Myriad Genetics by 4.4% in the 3rd quarter. New York State Teachers Retirement System now owns 73,900 shares of the company’s stock worth $2,024,000 after acquiring an additional 3,102 shares during the last quarter. Institutional investors 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.