Myriad Genetics, Inc. (NASDAQ: MYGN) stock jumped 3.83% on Friday to $17.87 against a previous-day closing price of $17.21. With 0.87 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.6 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $17.89 whereas the lowest price it dropped to was $16.80. The 52-week range on MYGN shows that it touched its highest point at $24.21 and its lowest point at $13.82 during that stretch. It currently has a 1-year price target of $20.38. Beta for the stock currently stands at 1.84.
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 up-trending over the past week, with a rise of 8.63%, but this was up by 21.90% over a month. Three-month performance surged to 0.73% while six-month performance fell -7.70%. The stock lost -10.47% in the past year, while it has gained 23.16% so far this year. A look at the trailing 12-month EPS for MYGN yields -3.36 with Next year EPS estimates of 0.10. For the next quarter, that number is 0.02. This implies an EPS growth rate of -1.25% for this year and 134.57% for next year.
Float and Shares Shorts:
At present, 81.20 million MYGN shares are outstanding with a float of 78.94 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.75 million, which was 7.00% higher than short shares on Sep 28, 2023. In addition to Mr. Paul J. Diaz as the firm’s CEO, President & Director, Mr. R. Bryan Riggsbee serves as its Executive VP, CFO & Treasurer.
Institutional Ownership:
Through their ownership of 103.01% of MYGN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.21% of MYGN, in contrast to 52.51% held by mutual funds. Shares owned by individuals account for 50.17%. As the largest shareholder in MYGN with 15.19% of the stake, BlackRock Fund Advisors holds 12,433,789 shares worth 12,433,789. A second-largest stockholder of MYGN, The Vanguard Group, Inc., holds 9,021,730 shares, controlling over 11.02% of the firm’s shares. Camber Capital Management LP is the third largest shareholder in MYGN, holding 6,635,000 shares or 8.10% stake. With a 6.73% stake in MYGN, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,508,801 shares are owned by the mutual fund manager. The Vanguard Explorer Fund, which owns about 4.15% of MYGN stock, is the second-largest Mutual Fund holder. It holds 3,399,805 shares valued at 52.97 million. Vanguard Total Stock Market ETF holds 2.97% of the stake in MYGN, owning 2,429,916 shares worth 37.86 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. With MYGN analysts setting a high price target of $28.00 and a low target of $12.00, the average target price over the next 12 months is $20.38. Based on these targets, MYGN could surge 56.69% to reach the target high and fall by -32.85% to reach the target low. Reaching the average price target will result in a growth of 14.05% from current levels.
Summary of Insider Activity:
Insiders traded MYGN stock several times over the past three months with 2 Buys and 7 Sells. In these transactions, 20,000 shares were bought while 14,727 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 570,333 while 280,415 shares were sold.
