Myriad Genetics Inc. [MYGN] Revenue clocked in at $566.10 million, up 66.62% YTD: What’s Next?

Myriad Genetics Inc. [NASDAQ: MYGN] slipped around -1.05 points on Tuesday, while shares priced at $32.95 at the close of the session, down -3.09%. The company report on July 2, 2021 that Myriad Genetics Completes Sale of Myriad RBM to IQVIA’s Q2 Solutions.

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Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, announced that it has completed the sale of its wholly-owned subsidiary, Myriad RBM, Inc. to Q2 Solutions, a leading global clinical trial laboratory services organization, and a wholly owned subsidiary of IQVIA. Q2 Solutions provides comprehensive testing, project management, supply chain, biorepository, biospecimen and consent tracking solutions. Myriad RBM, which specializes in laboratory services for clinical research for the pharmaceutical industry, will be added to the overall Q2 Solutions menu and offerings.

About Myriad GeneticsMyriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and wellbeing for all, empowering individuals with vital genetic insights and enabling healthcare providers to better detect, treat and prevent disease. Myriad discovers and commercializes genetic tests that determine the risk of developing disease, assess the risk of disease progression, and guide treatment decisions across medical specialties where critical genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit the Company’s website: www.myriad.com.

Myriad Genetics Inc. stock is now 66.62% up from its year-to-date (YTD) trading value. MYGN Stock saw the intraday high of $33.98 and lowest of $32.70 per share. The company’s 52-week high price is 34.02, which means current price is +68.97% above from all time high which was touched on 07/12/21.

Compared to the average trading volume of 544.09K shares, MYGN reached a trading volume of 2221467 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $26.63 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 3.20. 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.

Raymond James have made an estimate for Myriad Genetics Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 15, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Sell. The new note on the price target was released on June 03, 2021, representing the official price target for Myriad Genetics Inc. stock. Previously, the target price had yet another drop from $30 to $28, while BofA/Merrill kept a Underperform rating on MYGN stock. On August 14, 2019, analysts decreased their price target for MYGN shares from 45 to 40.

The Average True Range (ATR) for Myriad Genetics Inc. is set at 1.14, with the Price to Sales ratio for MYGN stock in the period of the last 12 months amounting to 4.30. The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 2.38.

How has MYGN stock performed recently?

Myriad Genetics Inc. [MYGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.14. With this latest performance, MYGN shares gained by 10.83% in over the last four-week period, additionally plugging by 29.52% over the last 6 months – not to mention a rise of 189.04% 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 60.88, with the RSI for the last a single of trading hit 61.69, and the three-weeks RSI is set at 59.38 for Myriad Genetics Inc. [MYGN]. The present Moving Average for the last 50 days of trading for this stock 29.34, while it was recorded at 32.78 for the last single week of trading, and 24.47 for the last 200 days.

Myriad Genetics Inc. [MYGN]: Deeper insight into the 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 2.00 and a Current Ratio set at 2.20.

Earnings analysis for Myriad Genetics Inc. [MYGN]

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 -8.20%.

Insider trade positions for Myriad Genetics Inc. [MYGN]

There are presently around $2,449 million, or 99.20% of MYGN stock, in the hands of institutional investors. The top three institutional holders of MYGN stocks are: BLACKROCK INC. with ownership of 13,229,879, which is approximately 5.823% of the company’s market cap and around 2.80% of the total institutional ownership; VANGUARD GROUP INC, holding 8,624,665 shares of the stock with an approximate value of $284.18 million in MYGN stocks shares; and EARNEST PARTNERS LLC, currently with $236.76 million in MYGN stock with ownership of nearly 6.743% of the company’s market capitalization.

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Positions in Myriad Genetics Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 90 institutional holders increased their position in Myriad Genetics Inc. [NASDAQ:MYGN] by around 7,868,933 shares. Additionally, 99 investors decreased positions by around 9,144,048 shares, while 31 investors held positions by with 57,324,393 shares. The mentioned changes placed institutional holdings at 74,337,374 shares, according to the latest SEC report filing. MYGN stock had 34 new institutional investments in for a total of 4,343,945 shares, while 25 institutional investors sold positions of 465,051 shares during the same period.

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