Pacad Investment Ltd. reduced its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 73.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,400 shares of the company’s stock after selling 18,000 shares during the period. Pacad Investment Ltd.’s holdings in Myriad Genetics were worth $165,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System purchased a new stake in shares of Myriad Genetics in the 1st quarter worth approximately $682,000. Bank of New York Mellon Corp lifted its position in Myriad Genetics by 131.2% during the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after acquiring an additional 521,146 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Myriad Genetics by 1.4% during the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after acquiring an additional 41,432 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Myriad Genetics by 4.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 698,450 shares of the company’s stock valued at $13,411,000 after acquiring an additional 29,348 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Myriad Genetics by 958.4% during the first quarter. Great West Life Assurance Co. Can now owns 97,514 shares of the company’s stock valued at $1,870,000 after acquiring an additional 88,301 shares during the last quarter.
A number of research firms have issued reports on MYGN. BidaskClub raised shares of Myriad Genetics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $16.00 price objective on shares of Myriad Genetics in a research note on Friday, June 30th. Cowen and Company reiterated a “hold” rating and issued a $25.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. Piper Jaffray Companies reiterated a “hold” rating and issued a $22.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.22.
In other news, Director John T. Henderson sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.30, for a total transaction of $909,000.00. Following the completion of the sale, the director now owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is owned by company insiders.
Myriad Genetics, Inc. (MYGN) opened at 32.75 on Friday. Myriad Genetics, Inc. has a 12-month low of $15.15 and a 12-month high of $33.42. The firm’s 50-day moving average is $28.48 and its 200 day moving average is $23.12. The firm has a market cap of $2.24 billion, a PE ratio of 102.66 and a beta of 0.26.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The company had revenue of $200.50 million during the quarter, compared to the consensus estimate of $193.71 million. During the same quarter last year, the company earned $0.36 earnings per share. Myriad Genetics’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts predict that Myriad Genetics, Inc. will post $1.02 EPS for the current year.
Myriad Genetics Company Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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