Myriad Genetics, Inc. (MYGN) Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 528,346 shares of the company’s stock after selling 1,802 shares during the period. Principal Financial Group Inc. owned about 0.78% of Myriad Genetics worth $13,652,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Airain ltd purchased a new stake in Myriad Genetics in the 2nd quarter worth approximately $1,097,000. GHP Investment Advisors Inc. grew its stake in Myriad Genetics by 29.6% in the 2nd quarter. GHP Investment Advisors Inc. now owns 43,857 shares of the company’s stock worth $1,133,000 after acquiring an additional 10,010 shares during the period. Virginia Retirement Systems ET AL grew its stake in Myriad Genetics by 24.6% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 60,800 shares of the company’s stock worth $1,571,000 after acquiring an additional 12,000 shares during the period. TrimTabs Asset Management LLC grew its stake in Myriad Genetics by 105.0% in the 2nd quarter. TrimTabs Asset Management LLC now owns 10,070 shares of the company’s stock worth $260,000 after acquiring an additional 5,157 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in Myriad Genetics by 81.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 109,172 shares of the company’s stock worth $2,821,000 after acquiring an additional 49,028 shares during the period.

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In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the company’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 value of $909,000.00. Following the transaction, the director now owns 52,524 shares in the company, valued at approximately $1,591,477.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.20% of the stock is currently owned by corporate insiders.

Shares of Myriad Genetics, Inc. (MYGN) opened at 33.51 on Thursday. The stock’s 50 day moving average is $29.26 and its 200 day moving average is $23.47. The stock has a market capitalization of $2.29 billion, a PE ratio of 105.05 and a beta of 0.26. Myriad Genetics, Inc. has a 52 week low of $15.15 and a 52 week high of $33.67.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The firm had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Analysts anticipate that Myriad Genetics, Inc. will post $1.02 EPS for the current fiscal year.

Several analysts have commented on the stock. BidaskClub raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a research note on Monday, August 14th. Barclays PLC lowered their target price on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 target price (up from $21.00) on shares of Myriad Genetics in a research note on Thursday, August 10th. Finally, Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and lowered their target price for the stock from $27.86 to $15.00 in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Myriad Genetics has a consensus rating of “Hold” and a consensus target price of $21.22.

Myriad Genetics 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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Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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