Myriad Genetics Inc. (MYGN) looking to reclaim success with recent performance

Myriad Genetics Inc. (NASDAQ: MYGN) stock fell -1.57% on Wednesday to $19.45 against a previous-day closing price of $19.76. With 0.3 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.55 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $19.93 whereas the lowest price it dropped to was $19.29. The 52-week range on MYGN shows that it touched its highest point at $28.45 and its lowest point at $15.38 during that stretch. It currently has a 1-year price target of $19.75. Beta for the stock currently stands at 1.71.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MYGN was down-trending over the past week, with a drop of -2.56%, but this was down by -0.56% over a month. Three-month performance dropped to -21.86% while six-month performance fell -8.51%. The stock lost -29.83% in the past year, while it has lost -29.53% so far this year. A look at the trailing 12-month EPS for MYGN yields -0.93 with Next year EPS estimates of -0.12. For the next quarter, that number is -0.15. This implies an EPS growth rate of 68.10% for this year and 63.60% for next year. EPS is expected to decline by -8.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -26.50%.

Float and Shares Shorts:

At present, 80.70 million MYGN shares are outstanding with a float of 79.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.81 million, which was 4.73% higher than short shares on Sep 14, 2022. In addition to Mr. Paul J. Diaz as the firm’s CEO, Pres & Director, Mr. R. Bryan Riggsbee serves as its Exec. VP, CFO & Treasurer.


Institutional Ownership:

Through their ownership of 101.04% of MYGN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.06% of MYGN, in contrast to 52.10% held by mutual funds. Shares owned by individuals account for 49.86%. As the largest shareholder in MYGN with 16.51% of the stake, BlackRock Fund Advisors holds 13,316,329 shares worth 13,316,329. A second-largest stockholder of MYGN, The Vanguard Group, Inc., holds 9,000,514 shares, controlling over 11.16% of the firm’s shares. EARNEST Partners LLC is the third largest shareholder in MYGN, holding 6,570,402 shares or 8.15% stake. With a 7.41% stake in MYGN, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,973,685 shares are owned by the mutual fund manager. The Vanguard Explorer Fund, which owns about 2.93% of MYGN stock, is the second-largest Mutual Fund holder. It holds 2,365,617 shares valued at 49.06 million. Vanguard Total Stock Market Index holds 2.85% of the stake in MYGN, owning 2,299,491 shares worth 47.69 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MYGN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. .

Summary of Insider Activity:

Insiders traded MYGN stock several times over the past three months with 1 Buys and 30 Sells. In these transactions, 16,875 shares were bought while 74,478 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 53 over the past year. The total number of shares bought during that period was 975,343 while 251,053 shares were sold.

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