Fintel reports that on August 7, 2023, JP Morgan maintained coverage of Myriad Genetics (NASDAQ:MYGN) with a Underweight recommendation.
Analyst Price Forecast Suggests 34.29% Upside
As of August 2, 2023, the average one-year price target for Myriad Genetics is 23.46. The forecasts range from a low of 13.13 to a high of $31.50. The average price target represents an increase of 34.29% from its latest reported closing price of 17.47.
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The projected annual revenue for Myriad Genetics is 743MM, an increase of 6.29%. The projected annual non-GAAP EPS is -0.12.
What is the Fund Sentiment?
There are 443 funds or institutions reporting positions in Myriad Genetics. This is a decrease of 13 owner(s) or 2.85% in the last quarter. Average portfolio weight of all funds dedicated to MYGN is 0.13%, an increase of 28.20%. Total shares owned by institutions increased in the last three months by 0.57% to 89,438K shares. 
The put/call ratio of MYGN is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
Camber Capital Management holds 7,000K shares representing 8.55% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 6,731K shares representing 8.22% ownership of the company. In it's prior filing, the firm reported owning 6,787K shares, representing a decrease of 0.84%. The firm increased its portfolio allocation in MYGN by 56.91% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 5,910K shares representing 7.22% ownership of the company. In it's prior filing, the firm reported owning 6,023K shares, representing a decrease of 1.90%. The firm increased its portfolio allocation in MYGN by 52.65% over the last quarter.
Glenview Capital Management holds 4,195K shares representing 5.12% ownership of the company. In it's prior filing, the firm reported owning 3,098K shares, representing an increase of 26.16%. The firm increased its portfolio allocation in MYGN by 114.71% over the last quarter.
Bank Of America holds 3,433K shares representing 4.19% ownership of the company. In it's prior filing, the firm reported owning 2,649K shares, representing an increase of 22.83%. The firm decreased its portfolio allocation in MYGN by 52.29% over the last quarter.
Myriad Genetics Background Information
(This description is provided by the company.)
Myriad Genetics Inc., is a leading genetic testing and precision medicine company dedicated to transforming patient lives worldwide. Myriad discovers and commercializes genetic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs.
Additional reading:
- Non-Employee Director Compensation Policy
- Restated Certificate of Incorporation, as amended
- Myriad Genetics Reports Second Quarter 2023 Financial Results and Reaffirms 2023 Revenue and Adjusted EPS Guidance; Generates the Fourth Consecutive Quarter of Double-Digit Year-Over-Year Testing Volume Growth
- Credit Agreement dated June 30, 2023, among Myriad Genetics, Inc., the other loan parties from time to time party thereto, the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as the administrative agent and issuing bank.
- Myriad Genetics Announces New $90 Million Asset-Based Credit Facility SALT LAKE CITY, July 6, 2023 –Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced that it has established a new $90 million a
This story originally appeared on Fintel.
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