Advisory Services Network LLC increased its stake in shares of Myriad Genetics Inc. (NASDAQ:MYGN) by 7.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,600 shares of the company’s stock after buying an additional 1,395 shares during the period. Advisory Services Network LLC’s holdings in Myriad Genetics were worth $600,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Myriad Genetics by 2.7% in the first quarter. BlackRock Fund Advisors now owns 2,730,915 shares of the company’s stock valued at $102,218,000 after buying an additional 72,034 shares in the last quarter. State Street Corp boosted its stake in Myriad Genetics by 9.3% in the first quarter. State Street Corp now owns 2,200,112 shares of the company’s stock valued at $82,349,000 after buying an additional 188,101 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Myriad Genetics by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,865,430 shares of the company’s stock valued at $69,823,000 after buying an additional 121,266 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Myriad Genetics by 9.0% in the first quarter. Renaissance Technologies LLC now owns 1,034,800 shares of the company’s stock valued at $38,733,000 after buying an additional 85,200 shares in the last quarter. Finally, BB&T Securities LLC boosted its stake in Myriad Genetics by 0.3% in the first quarter. BB&T Securities LLC now owns 633,693 shares of the company’s stock valued at $23,719,000 after buying an additional 2,148 shares in the last quarter.
Shares of Myriad Genetics Inc. (NASDAQ:MYGN) traded up 2.94% during mid-day trading on Wednesday, hitting $21.19. The stock had a trading volume of 1,138,635 shares. The stock has a market cap of $1.46 billion, a P/E ratio of 12.39 and a beta of 0.54. Myriad Genetics Inc. has a 12-month low of $19.10 and a 12-month high of $46.24. The company’s 50 day moving average price is $20.96 and its 200 day moving average price is $30.25.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. The company had revenue of $186.50 million for the quarter, compared to analyst estimates of $187.95 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts predict that Myriad Genetics Inc. will post $1.07 EPS for the current fiscal year.
MYGN has been the subject of several recent research reports. Mizuho cut their price target on Myriad Genetics from $34.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, August 10th. TheStreet lowered Myriad Genetics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Zacks Investment Research lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 1st. Piper Jaffray Cos. lowered Myriad Genetics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $47.00 to $22.00 in a research report on Wednesday, August 10th. Finally, Wells Fargo & Co. upgraded Myriad Genetics from a “market perform” rating to an “outperform” rating in a research report on Sunday, August 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $32.21.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $20.49, for a total value of $614,700.00. Following the completion of the transaction, the director now directly owns 49,493 shares in the company, valued at approximately $1,014,111.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Christopher Capone purchased 10,000 shares of the business’s stock in a transaction on Friday, August 19th. The stock was acquired at an average price of $21.24 per share, with a total value of $212,400.00. Following the completion of the acquisition, the insider now directly owns 146,026 shares in the company, valued at approximately $3,101,592.24. The disclosure for this purchase can be found here. 5.80% of the stock is owned by company insiders.
Myriad Genetics Company Profile
Myriad Genetics, Inc (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics, which 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, or assess a patient’s risk of disease progression and disease recurrence, and other, which provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients.
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