Just the Facts on Myriad Genetics, Inc. (MYGN)

Myriad Genetics, Inc. (NASDAQ:MYGN) is an interesting player in the Services space, with a focus on Research Services. The stock has been active on the tape, currently trading at $16.37, up from yesterday’s close by 1.55%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Does this stock stack up well when compared to its peers in the space? Let’s take a look. Myriad Genetics, Inc. (MYGN) currently trades with a market capitalization of $1.12B. That value represents a market adjusting for revenues that have been falling by -3.30% on a quarterly year/year basis as of the company’s last quarterly report.

The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For MYGN, the company currently has $148.40M of cash on the books, which is offset by $199.20M current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $135.52M over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of 0.24 on a per share basis this quarter. Perhaps, that suggests something about why 139.80% of the outstanding share supply is held by institutional investors.

Technical Analysis

As most professionals know, technical analysis can offer critical insights into what smart money and insiders think about a stock’s prospects going forward. Looking at the stock’s movement on the chart, Myriad Genetics, Inc. recorded a 52-week high of 41.75. It is now trading 25.63 off that level. The stock is trading 17.29 its 50-day moving average by 1.17. The stock carved out a 52-week low down at 15.86.

In recent action, Myriad Genetics, Inc. (MYGN) has made a move of -8.70% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 80.26, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 60.63M with 44.57% sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of MYGN.

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