Myriad Genetics Inc. (MYGN): Today's Featured Diversified Services Winner
The diversified services industry closed the day down 1.7%. Innotrac Corporation (INOC), Infinity Pharmaceuticals Inc (INFI), Ambow Education (AMBO), and LML Payment Systems Inc (LMLP) were all winners today within the diversified services industry with Myriad Genetics Inc (MYGN) being today's featured diversified services winner. Myriad Genetics Inc rose 15 cents (0.8%) to $18.77 on light volume. Throughout the day, 309,580 shares of Myriad Genetics Inc exchanged hands as compared to its average daily volume of 754,300 shares. Myriad Genetics, Inc., a molecular diagnostic company, focuses on the development and marketing of novel predictive medicine, personalized medicine, and prognostic medicine products. Myriad Genetics Inc has a market cap of $1.6 billion and is part of the services sector. The company has a P/E ratio of 16.7, equal to the average diversified services industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 19.4% year to date as of the close of trading on Thursday. TheStreet Ratings rates Myriad as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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