Myriad Genetics, Inc. (NASDAQ:MYGN - Get Free Report) was up 6.6% during trading on Monday . The company traded as high as $19.42 and last traded at $19.38. Approximately 825,655 shares traded hands during mid-day trading, an increase of 33% from the average daily volume of 620,762 shares. The stock had previously closed at $18.18.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group increased their target price on Myriad Genetics from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $23.17.
Check Out Our Latest Report on MYGN
Myriad Genetics Stock Up 8.9 %
The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The firm's fifty day moving average price is $21.02 and its 200-day moving average price is $19.68. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -6.19 and a beta of 1.95.
Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $196.60 million during the quarter, compared to the consensus estimate of $194.80 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) earnings per share. Sell-side analysts predict that Myriad Genetics, Inc. will post -0.36 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of MYGN. SG Americas Securities LLC raised its stake in shares of Myriad Genetics by 339.7% in the 3rd quarter. SG Americas Securities LLC now owns 58,688 shares of the company's stock valued at $941,000 after purchasing an additional 45,340 shares during the period. Strs Ohio grew its holdings in shares of Myriad Genetics by 26.3% during the third quarter. Strs Ohio now owns 47,100 shares of the company's stock worth $755,000 after buying an additional 9,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Myriad Genetics by 8.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 413,771 shares of the company's stock valued at $6,637,000 after buying an additional 32,823 shares during the last quarter. Inspire Investing LLC lifted its stake in Myriad Genetics by 40.8% in the 3rd quarter. Inspire Investing LLC now owns 19,002 shares of the company's stock valued at $305,000 after acquiring an additional 5,505 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Myriad Genetics by 96.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company's stock worth $34,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors own 99.02% of the company's stock.
About Myriad Genetics
(
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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.
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