In last trading session, Myriad Genetics, Inc. (NASDAQ:MYGN) saw 0.87 million shares changing hands with its beta currently measuring 1.84. Company’s recent per share price level of $17.87 trading at $0.66 or 3.83% at ring of the bell on the day assigns it a market valuation of $1.47B. That closing price of MYGN’s stock is at a discount of -35.48% from its 52-week high price of $24.21 and is indicating a premium of 22.66% from its 52-week low price of $13.82. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.97 million shares which gives us an average trading volume of 603.27K if we extend that period to 3-months.
For Myriad Genetics, Inc. (MYGN), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.22. Splitting up the data highlights that, out of 9 analysts covering the stock, 2 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 1 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.01 in the current quarter.
Myriad Genetics, Inc. (NASDAQ:MYGN) trade information
Upright in the green during last session for gaining 3.83%, in the last five days MYGN remained trading in the green while hitting it’s week-highest on Friday, 11/17/23 when the stock touched $17.87 price level, adding 0.11% to its value on the day. Myriad Genetics, Inc.’s shares saw a change of 23.16% in year-to-date performance and have moved 8.63% in past 5-day. Myriad Genetics, Inc. (NASDAQ:MYGN) showed a performance of 21.90% in past 30-days. Number of shares sold short was 5.75 million shares which calculate 11.36 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $20.38 to the stock, which implies a rise of 12.32% to its current value. Analysts have been projecting $12.00 as a low price target for the stock while placing it at a high target of $28.00. It follows that stock’s current price would drop -56.69% in reaching the projected high whereas dropping to the targeted low would mean a gain of 32.85% for stock’s current value.
Myriad Genetics, Inc. (MYGN) estimates and forecasts
Statistics highlight that Myriad Genetics, Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -7.70% of value to its shares in past 6 months, showing an annual growth rate of 0.00% while that of industry is 14.80. The company is estimating its revenue growth to increase by 108.30% in the current quarter and calculating 85.70% increase in the next quarter. This year revenue growth is estimated to rise 10.70% from the last financial year’s standing.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $194.03 million for the same. And 5 analysts are in estimates of company making revenue of $195.55 million in the next quarter that will end on Mar 2024. Company posted $177.8 million and $181.2 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 9.10% while estimating it to be 7.90% for the next quarter.
In 2023, company’s earnings growth rate is likely to be around -1.25% while estimates for its earnings growth in next 5 years are of -8.20%.
Myriad Genetics, Inc. is more likely to be releasing its next quarterly report on November 06 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Myriad Genetics, Inc. (NASDAQ:MYGN)’s Major holders
Insiders are in possession of 2.22% of company’s total shares while institution are holding 103.01 percent of that, with stock having share float percentage of 105.36%. Investors also watch the number of corporate investors in a company very closely, which is 103.01% institutions for Myriad Genetics, Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at MYGN for having 13.63 million shares of worth $243.51 million. And as of Sep 29, 2023, it was holding 16.58% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 9.16 million shares on Sep 29, 2023. The number of shares represents firm’s hold over 11.15% of outstanding shares, having a total worth of $163.77 million.
On the other hand, iShares Core S&P Smallcap ETF and Vanguard Explorer Fund, Inc. are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 5.53 million shares of worth $98.79 million or 6.73% of the total outstanding shares. The later fund manager was in possession of 3.2 million shares on Jul 30, 2023, making its stake of worth around $57.15 million in the company or a holder of 3.89% of company’s stock.