At the time of writing, Myriad Genetics, Inc. [MYGN] stock is trading at $20.88, up 2.65%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The MYGN shares have gain 4.40% over the last week, with a monthly amount drifted -7.65%, and not seem to be holding up well over a long-time horizon.
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On 9, April 2024, Myriad Genetics Research Shows Reduction in Hospitalizations for Patients with Depression after GeneSight Testing. In a post published today on Yahoo Finance, Fewer patients were prescribed medications with gene-drug interactions after taking the GeneSight test.
From an analyst’s perspective:
Previously, Wells Fargo started tracking the stock with Equal Weight rating on December 19, 2023, and set its price target to $20. On December 14, 2023, Guggenheim initiated with a Buy rating and assigned a price target of $23 on the stock. Wolfe Research started tracking the stock assigning a Outperform rating and suggested a price target of $28 on December 13, 2023. Goldman upgraded its rating to Buy for this stock on May 23, 2023, and upped its price target to $25. In a note dated January 18, 2023, Raymond James upgraded an Outperform rating on this stock but restated the target price of $25.
For the past year, the stock price of Myriad Genetics, Inc. fluctuated between $13.82 and $24.21. Currently, Wall Street analysts expect the stock to reach $22.67 within the next 12 months. Myriad Genetics, Inc. [NASDAQ: MYGN] shares were valued at $20.88 at the most recent close of the market. An investor can expect a potential return of 8.57% based on the average MYGN price forecast.
Analyzing the MYGN fundamentals
According to Myriad Genetics, Inc. [NASDAQ:MYGN], the company’s sales were 753.20M for trailing twelve months, which represents an 10.57% jump. Gross Profit Margin for this corporation currently stands at 0.69% with Operating Profit Margin at -0.37%, Pretax Profit Margin comes in at -0.38%, and Net Profit Margin reading is -0.37%. To continue investigating profitability, this company’s Return on Assets is posted at -0.24, Equity is -0.35 and Total Capital is -0.29. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.29.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 20.48 points at the first support level, and at 20.08 for the second support level. However, for the 1st resistance point, the stock is sitting at 21.17, and for the 2nd resistance point, it is at 21.46.
Myriad Genetics, Inc. [MYGN] reported earnings per share of $0.04 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.01/share, meaning a difference of $0.03 and a surprise factor of 300.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.03 per share as compared to estimates of -$0.08 per share, a difference of $0.05 representing a surprise of 62.50%.
Ratios To Look Out For
It is important to note that Myriad Genetics, Inc. [NASDAQ:MYGN] has a current ratio of 2.01. Further, the Quick Ratio stands at 1.87, while the Cash Ratio is 0.36. Considering the valuation of this stock, the price to sales ratio is 2.49, the price to book ratio is 2.40.
Transactions by insiders
Recent insider trading involved Riggsbee Richard Bryan, Chief Financial Officer, that happened on Dec 01 ’23 when 30000.0 shares were sold. Chief Financial Officer, Riggsbee Richard Bryan completed a deal on Nov 01 ’23 to sell 30000.0 shares. Meanwhile, Director SPIEGELMAN DANIEL K sold 8638.0 shares on Jun 02 ’23.
