GHP Investment Advisors Inc. Boosts Stake in Myriad Genetics, Inc. (MYGN)

GHP Investment Advisors Inc. lifted its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,781 shares of the company’s stock after buying an additional 5,491 shares during the period. GHP Investment Advisors Inc. owned approximately 0.08% of Myriad Genetics worth $2,704,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MYGN. BlackRock Inc. lifted its stake in shares of Myriad Genetics by 6.7% during the second quarter. BlackRock Inc. now owns 11,083,521 shares of the company’s stock worth $414,192,000 after buying an additional 691,243 shares during the period. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Myriad Genetics during the second quarter worth $14,926,000. Frontier Capital Management Co. LLC raised its holdings in shares of Myriad Genetics by 18.0% during the second quarter. Frontier Capital Management Co. LLC now owns 2,376,935 shares of the company’s stock worth $88,826,000 after purchasing an additional 362,821 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Myriad Genetics by 771.2% during the second quarter. Millennium Management LLC now owns 329,754 shares of the company’s stock worth $12,323,000 after purchasing an additional 291,902 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Myriad Genetics by 76.8% during the second quarter. Wells Fargo & Company MN now owns 376,515 shares of the company’s stock worth $14,071,000 after purchasing an additional 163,613 shares during the last quarter.

Shares of Myriad Genetics stock opened at $44.45 on Thursday. 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, Inc. has a 1 year low of $27.23 and a 1 year high of $50.44. The firm has a market cap of $3.26 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 3.12 and a beta of 0.51.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 21st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts anticipate that Myriad Genetics, Inc. will post 1.44 earnings per share for the current fiscal year.

Several brokerages recently issued reports on MYGN. Morgan Stanley raised their target price on shares of Myriad Genetics from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. Piper Jaffray Companies raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $53.00 in a report on Wednesday, October 10th. BidaskClub cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. ValuEngine cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Finally, Barclays reduced their target price on shares of Myriad Genetics from $30.00 to $25.00 and set an “underweight” rating for the company in a report on Tuesday, September 11th. Four analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $41.10.

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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