Myriad Genetics (NASDAQ:MYGN) Sets New 1-Year High at $24.92

Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $24.92 and last traded at $24.45, with a volume of 103568 shares. The stock had previously closed at $23.95.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Leerink Partnrs raised Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Wednesday. SVB Leerink upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $25.00 to $35.00 in a report on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and a consensus price target of $24.86.

Myriad Genetics Price Performance

The stock’s 50 day simple moving average is $20.64 and its 200-day simple moving average is $19.91. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -7.48 and a beta of 1.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. On average, analysts expect that Myriad Genetics, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MYGN. Vanguard Group Inc. grew its holdings in Myriad Genetics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after buying an additional 789,496 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after acquiring an additional 1,223,446 shares during the period. Glenview Capital Management LLC grew its holdings in shares of Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after purchasing an additional 1,500,000 shares in the last quarter. Earnest Partners LLC increased its position in shares of Myriad Genetics by 6.7% during the third quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock valued at $55,711,000 after purchasing an additional 219,503 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Myriad Genetics by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,680,918 shares of the company’s stock valued at $51,315,000 after purchasing an additional 89,330 shares in the last quarter. 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.