While Myriad Genetics, Inc. has underperformed by -8.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MYGN rose by 15.62%, with highs and lows ranging from $24.21 to $13.82, whereas the simple moving average jumped by 11.20% in the last 200 days.
On December 21, 2023, Piper Sandler started tracking Myriad Genetics, Inc. (NASDAQ: MYGN) recommending Neutral. A report published by Wells Fargo on December 19, 2023, Initiated its previous ‘Equal Weight’ rating for MYGN. Guggenheim also rated MYGN shares as ‘Buy’, setting a target price of $23 on the company’s shares in an initiating report dated December 14, 2023. Wolfe Research Initiated an Outperform rating on December 13, 2023, and assigned a price target of $28. JP Morgan initiated its ‘Underweight’ rating for MYGN, as published in its report on July 05, 2023. Goldman’s report from May 23, 2023 suggests a price prediction of $25 for MYGN shares, giving the stock a ‘Buy’ rating. Raymond James also rated the stock as ‘Outperform’.
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Analysis of Myriad Genetics, Inc. (MYGN)
Further, the quarter-over-quarter increase in sales is 10.57%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Myriad Genetics, Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -31.55% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.87, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and MYGN is recording an average volume of 646.48K. On a monthly basis, the volatility of the stock is set at 4.62%, whereas on a weekly basis, it is put at 5.84%, with a loss of -5.67% over the past seven days. Furthermore, long-term investors anticipate a median target price of $23.75, showing growth from the present price of $21.61, which can serve as yet another indication of whether MYGN is worth investing in or should be passed over.
How Do You Analyze Myriad Genetics, Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.14%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 109.85% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
MYGN shares are owned by institutional investors to the tune of 109.85% at present.
