Macquarie Group Ltd. Cuts Holdings in Myriad Genetics, Inc. (MYGN)

Macquarie Group Ltd. lessened its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 4.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 139,100 shares of the company’s stock after selling 7,000 shares during the quarter. Macquarie Group Ltd.’s holdings in Myriad Genetics were worth $5,198,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in Myriad Genetics by 6.7% in the 2nd quarter. Bank of America Corp DE now owns 76,438 shares of the company’s stock worth $2,856,000 after buying an additional 4,812 shares in the last quarter. Natixis purchased a new position in Myriad Genetics in the 2nd quarter worth approximately $228,000. Dynamic Technology Lab Private Ltd purchased a new position in Myriad Genetics in the 2nd quarter worth approximately $372,000. United Services Automobile Association grew its stake in Myriad Genetics by 206.8% in the 2nd quarter. United Services Automobile Association now owns 104,981 shares of the company’s stock worth $1,916,000 after buying an additional 70,766 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its stake in Myriad Genetics by 205,747.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 39,111 shares of the company’s stock worth $1,462,000 after buying an additional 39,092 shares in the last quarter.

A number of equities analysts have commented on MYGN shares. TheStreet raised shares of Myriad Genetics from a “c+” rating to a “b” rating in a research note on Monday, June 4th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, August 24th. ValuEngine cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. BidaskClub cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 21st. Finally, Barclays upped their price objective on shares of Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 22nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $39.10.

Shares of Myriad Genetics stock opened at $46.65 on Wednesday. Myriad Genetics, Inc. has a 52-week low of $27.23 and a 52-week high of $50.44. The firm has a market capitalization of $3.28 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 3.16 and a beta of 0.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.19 and a quick ratio of 2.86.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, August 21st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.05. Myriad Genetics had a net margin of 17.69% and a return on equity of 9.78%. The company had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $195.93 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue was up .7% on a year-over-year basis. equities research analysts forecast that Myriad Genetics, Inc. will post 1.43 EPS for the current year.

In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the stock in a transaction on Wednesday, July 11th. The shares were sold at an average price of $42.06, for a total transaction of $1,261,800.00. Following the completion of the sale, the director now owns 59,743 shares of the company’s stock, valued at approximately $2,512,790.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Christopher Capone sold 80,000 shares of the stock in a transaction on Wednesday, July 11th. The shares were sold at an average price of $41.00, for a total transaction of $3,280,000.00. Following the sale, the insider now directly owns 184,948 shares of the company’s stock, valued at approximately $7,582,868. The disclosure for this sale can be found here. Insiders have sold a total of 180,672 shares of company stock valued at $7,572,215 in the last three months. 6.70% of the stock is currently owned by corporate insiders.

About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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

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