Price T Rowe Associates Inc. MD increased its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) by 13.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,568 shares of the company’s stock after acquiring an additional 6,337 shares during the same period. Price T Rowe Associates Inc. MD owned about 0.06% of Myriad Genetics worth $1,143,000, according to the most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in MYGN. Amalgamated Bank increased its stake in shares of Myriad Genetics by 2.2% in the fourth quarter. Amalgamated Bank now owns 32,359 shares of the company’s stock valued at $619,000 after buying an additional 692 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Myriad Genetics by 9.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock valued at $186,000 after buying an additional 720 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Myriad Genetics by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after buying an additional 889 shares during the same period. Mutual of America Capital Management LLC increased its holdings in Myriad Genetics by 8.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company’s stock valued at $297,000 after purchasing an additional 1,167 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Myriad Genetics by 8.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,107 shares of the company’s stock valued at $583,000 after purchasing an additional 2,050 shares during the same period. Institutional investors own 99.02% of the company’s stock.
Insiders place their bets
In other news, Director Daniel K. Spiegelman sold 3,788 shares of Myriad Genetics in a transaction that occurred on Monday, June 3. The shares were sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the transaction, the director now directly owns 36,705 shares of the company’s stock, valued at $808,978.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC’s website. In other Myriad Genetics news, Director Lee Nisley Newcomer sold 6,200 shares of the company’s stock in a transaction dated Monday, May 13. The shares were sold at an average price of $25.30, for a total transaction of $156,860.00. Following the completion of the sale, the director now directly owns 66,650 shares of the company’s stock, valued at approximately $1,686,245. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. Also, Director Daniel K. Spiegelman sold 3,788 shares of Myriad Genetics in a transaction dated Monday, June 3. The shares were sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the transaction, the director now directly owns 36,705 shares of the company’s stock, valued at $808,978.20. The disclosure of this sale can be found here. During the last quarter, insiders sold 142,832 shares of the company’s stock, valued at $3,574,217. 2.10% of the shares are currently owned by company insiders.
Upgrades and downgrades by analysts
Several research analysts have recently commented on the stock. Jefferies Financial Group reiterated an “underperform” rating and issued a $20.00 price target (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. TD Cowen increased their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday. Scotiabank began coverage on shares of Myriad Genetics in a report on Thursday, June 27th. They issued a “sector outperform” rating and a $29.00 price target for the company. Leerink Partnrs upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. raised their price target on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday. Two research analysts have rated the stock a “sell,” four have given a “hold” rating and six have given a “buy” rating. Based on data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and a consensus price target of $26.40.
Get our latest report on MYGN
Trading at Myriad Genetics increased by 1.0%
MYGN opened at $27.95 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a 52-week low of $13.82 and a 52-week high of $28.90. The stock has a market cap of $2.53 billion, a P/E ratio of -9.91 and a beta of 1.95. The company has a 50-day moving average of $25.30 and a 200-day moving average of $23.01.
Myriad Genetics (NASDAQ:MYGN – Get Free Report) last released its quarterly earnings results on Tuesday, August 6. The company reported earnings per share (EPS) of $0.05 for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The company posted revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. In the same quarter last year, the company posted earnings per share of ($0.21). The company’s quarterly revenue grew by 15.3% compared to the same quarter last year. Equities analysts forecast that Myriad Genetics, Inc. will post earnings per share of -$0.36 for the current fiscal year.
Myriad Genetics Profile
(Free report)
Myriad Genetics, Inc., a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, as well as women’s health and pharmacogenomics. It also offers the MyRisk Hereditary Cancer Test, a DNA sequencing test to assess risks for hereditary cancers; the BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to determine therapy for patients with metastatic breast, ovarian, metastatic pancreatic and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and the MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.
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