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This Is A Time To Build A Position In Myriad Genetics Inc. (NASDAQ: MYGN)

Myriad Genetics Inc. (NASDAQ:MYGN)’s traded shares stood at 1.68 million during the last session, with the company’s beta value hitting 1.80. At the close of trading, the stock’s price was $23.08, to imply a decrease of -2.78% or -$0.66 in intraday trading. The MYGN share’s 52-week high remains $28.18, putting it -22.1% down since that peak but still an impressive 39.69% since price per share fell to its 52-week low of $13.92. The company has a valuation of $1.91B, with an average of 0.73 million shares in intraday trading volume over the past 10 days and average of 705.72K shares over the past 3 months.

Analysts have given a consensus recommendation of an Underweight for Myriad Genetics Inc. (MYGN), translating to a mean rating of 3.30. Of 9 analyst(s) looking at the stock, 3 analyst(s) give MYGN a Sell rating. 1 of those analysts rate the stock as Overweight while 4 advise Hold as 0 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.16.

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Myriad Genetics Inc. (NASDAQ:MYGN) trade information

After registering a -2.78% downside in the last session, Myriad Genetics Inc. (MYGN) has traded red over the past five days. The stock hit a weekly high of 23.99 this Friday, 03/17/23, dropping -2.78% in its intraday price action. The 5-day price performance for the stock is 8.71%, and 19.90% over 30 days. With these gigs, the year-to-date price performance is 59.06%. Short interest in Myriad Genetics Inc. (NASDAQ:MYGN) saw shorts transact 3.21 million shares and set a 3.21 days time to cover.

Analysts on Wall Street suggest a consensus price target of $20.67, implying a decrease of -11.66% to the stock’s current value. The extremes give us $13.00 and $27.00 for target low and target high price respectively. As such, MYGN has been trading -16.98% off suggested target high and 43.67% from its likely low.

Myriad Genetics Inc. (MYGN) estimates and forecasts

Looking at statistics comparing Myriad Genetics Inc. share performance against respective industry, we note that the company has underperformed competitors. Myriad Genetics Inc. (MYGN) shares are 7.25% up over the last 6 months, with its year-to-date growth rate lower than industry average at -13.33% against 9.60%. Revenue is forecast to shrink -700.00% this quarter before falling -133.30% for the next one. The rating firms project that company’s revenue will shrink -3.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 9 analysts is $169.46 million. Meanwhile, for the quarter ending Mar 2023, a total of 7 analyst(s) estimate revenue growth to $174.88 million.Earnings reports from the last fiscal year show that sales brought in $160.8 million and $164.9 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 5.40% before jumping 6.10% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -24.50% for the past 5-year period. While 2023 is set for a -342.40% return in earnings, projections for the next 5 years are at -8.20% annually.

MYGN Dividends

Myriad Genetics Inc. has its next earnings report out between May 03 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Myriad Genetics Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Myriad Genetics Inc. (NASDAQ:MYGN)’s Major holders

Myriad Genetics Inc. insiders hold 1.83% of total outstanding shares, with institutional holders owning 99.53% of the shares at 101.38% float percentage. In total, 99.53% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 14.58 million shares (or 18.00% of shares), all amounting to roughly $278.25 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 9.13 million shares, or about 11.26% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $174.17 million.

We also have iShares Core S&P Smallcap ETF and Vanguard Explorer Fund, Inc. as the top two Mutual Funds with the largest holdings of the Myriad Genetics Inc. (MYGN) shares. Going by data provided on Dec 30, 2022, iShares Core S&P Smallcap ETF holds roughly 6.02 million shares. This is just over 7.43% of the total shares, with a market valuation of $87.4 million. Data from the same date shows that the other fund manager holds a little less at 3.12 million, or 3.85% of the shares, all valued at about 64.74 million.

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