Sunday, October 25, 2020

BofA/Merrill lifts Myriad Genetics Inc. [MYGN] price estimate. Who else is bullish?

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Myriad Genetics Inc. [NASDAQ: MYGN] surged by $0.39 during the normal trading session on Friday and reaching a high of $13.00 during the day while it closed the day at $12.93.

Myriad Genetics Inc. stock has also loss -2.71% of its value over the past 7 days. However, MYGN stock has inclined by 7.84% in the 3 months of the year. Over the past six months meanwhile, it has gained 2.54% and lost -52.52% year-on date.

The market cap for MYGN stock reached $936.91 million, with 74.60 million shares outstanding and 73.13 million shares in the current float. Compared to the average trading volume of 949.05K shares, MYGN reached a trading volume of 2393653 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Myriad Genetics Inc. [MYGN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MYGN shares is $15.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MYGN stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA/Merrill have made an estimate for Myriad Genetics Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on September 26, 2019. While these analysts kept the previous recommendation, Piper Jaffray dropped their target price from $45 to $40. The new note on the price target was released on August 14, 2019, representing the official price target for Myriad Genetics Inc. stock. On August 01, 2019, analysts increased their price target for MYGN shares from 18 to 40.

The Average True Range (ATR) for Myriad Genetics Inc. is set at 0.75, with the Price to Sales ratio for MYGN stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 3.01. Price to Free Cash Flow for MYGN in the course of the last twelve months was 18.55 with Quick ratio for the last quarter at 2.10.

MYGN stock trade performance evaluation

Myriad Genetics Inc. [MYGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.71. With this latest performance, MYGN shares dropped by -9.39% in over the last four-week period, additionally plugging by 2.54% over the last 6 months – not to mention a drop of -53.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MYGN stock in for the last two-week period is set at 47.73, with the RSI for the last a single of trading hit 45.59, and the three-weeks RSI is set at 48.57 for Myriad Genetics Inc. [MYGN]. The present Moving Average for the last 50 days of trading for this stock 12.81, while it was recorded at 13.05 for the last single week of trading, and 17.05 for the last 200 days.

Myriad Genetics Inc. [MYGN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Myriad Genetics Inc. [MYGN] shares currently have an operating margin of -21.11 and a Gross Margin at +61.31. Myriad Genetics Inc.’s Net Margin is presently recorded at -31.24.

Return on Total Capital for MYGN is now -10.63, given the latest momentum, and Return on Invested Capital for the company is -15.82. Return on Equity for this stock declined to -19.88, with Return on Assets sitting at -12.43. When it comes to the capital structure of this company, Myriad Genetics Inc. [MYGN] has a Total Debt to Total Equity ratio set at 32.11. Additionally, MYGN Total Debt to Total Capital is recorded at 24.30, with Total Debt to Total Assets ending up at 19.09. Long-Term Debt to Equity for the company is recorded at 30.64, with the Long-Term Debt to Total Capital now at 23.19.

Reflecting on the efficiency of the workforce at the company, Myriad Genetics Inc. [MYGN] managed to generate an average of -$73,889 per employee. Receivables Turnover for the company is 6.09 with a Total Asset Turnover recorded at a value of 0.40.Myriad Genetics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.30.

Earnings per share (EPS) analysis for Myriad Genetics Inc. [MYGN] stock

With the latest financial reports released by the company, Myriad Genetics Inc. posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -75.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MYGN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Myriad Genetics Inc. go to 8.10%.

Myriad Genetics Inc. [MYGN]: Insider Ownership positions

There are presently around $951 million, in the hands of institutional investors. The top three institutional holders of MYGN stocks are: BLACKROCK INC. with ownership of 12,632,423, which is approximately 1.395% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 8,246,412 shares of the stock with an approximate value of $106.63 million in MYGN stocks shares; and STATE STREET CORP, currently with $69.57 million in MYGN stock with ownership of nearly 31.362% of the company’s market capitalization.

Positions in Myriad Genetics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 110 institutional holders increased their position in Myriad Genetics Inc. [NASDAQ:MYGN] by around 11,984,791 shares. Additionally, 81 investors decreased positions by around 13,036,125 shares, while 33 investors held positions by with 48,557,469 shares. The mentioned changes placed institutional holdings at 73,578,385 shares, according to the latest SEC report filing. MYGN stock had 30 new institutional investments in for a total of 2,368,618 shares, while 21 institutional investors sold positions of 9,513,221 shares during the same period.

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