BofA/Merrill lowered the price target for the Myriad Genetics Inc. (NASDAQ:MYGN) stock from “a Neutral” to “an Underperform”. The rating was released on September 26, 2019. We previously noted in another research note published on August 14, 2019 by Piper Jaffray that downgraded the stock from an Overweight to a Neutral with a price target of $40 for MYGN stock. The stock was upgraded by Barclays, who disclosed in a research note on August 01, 2019, from Underweight to Equal Weight and set the price objective to $40.
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Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of -$0.12 during the last quarter as opposed to a consensus estimate of -$0.12, which indicates the company missed its estimate by $0, which implies that the company surprised the market by 0.00%. It appears that the average earnings per share estimate for the current quarter (ending in Mar 2021) is -$0.14. This is an average of 8 analysts’ earnings, where the high earnings per share estimate is -$0.06 and the low earnings per share estimate is -$0.32. According to 8 analyst estimates, an average revenue estimate of $156.2M is projected for the current quarter with a high revenue estimate of $163.5M and a low estimate of $148.73M.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Myriad Genetics Inc. (NASDAQ:MYGN) raised 2.50% to close Thursday’s market session at $31.21, higher as compared to yesterday’s close. The stock price fluctuated between $30.04 and $31.87 throughout the trading session with the volume trading being 959756 shares, which represented a significant variation when compared to the three months average volume of 827.06K shares. The firm’s stock price fluctuated 4.80% within the last five trades and 8.52% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 139.34% in the last 6 months and 58.99% was added to its value over the previous 3 months. MYGN stock is trading at a margin of 4.77%, 6.62% and 68.51% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, MYGN deals in the Healthcare domain. The stock is trading -4.09 percent below its 52-week high and 196.11 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 190.44. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Myriad Genetics Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -35.10 percent and the profit margin is -22.20 percent, and the company has reported a gross margin of 68.00 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $2.36 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 90.99. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 4.23 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 2.66, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Hart Jayne B., the Chief People Officer at Myriad Genetics Inc. (MYGN) has sold 58,000 shares of firm on Mar 29 at a price of $30.00 against the total amount of $1.74 million. In another inside trade, LANCHBURY JERRY S, Chief Scientific Officer of Myriad Genetics Inc. (NASDAQ:MYGN) sold 80,000 shares of the firm on Feb 16 for a total worth of $2.38 million at a price of $29.71. An inside trade which took place on Jan 08, EVP Strategy and Innovation of Myriad Genetics Inc. Parkinson Paul sold 11,824 shares of firm against total price of $0.3 million at the cost of $25.00 per share.