Magnus Financial Group LLC Invests $219,000 in Myriad Genetics, Inc. (MYGN) Stock

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Magnus Financial Group LLC purchased a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 6,596 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Piedmont Investment Advisors Inc. grew its position in Myriad Genetics by 3.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 18,462 shares of the company’s stock valued at $613,000 after buying an additional 654 shares during the period. Rothschild & Co. Asset Management US Inc. bought a new stake in Myriad Genetics during the first quarter valued at approximately $27,412,000. Oregon Public Employees Retirement Fund grew its position in Myriad Genetics by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 28,955 shares of the company’s stock valued at $961,000 after buying an additional 523 shares during the period. Mason Street Advisors LLC grew its position in Myriad Genetics by 1.4% during the first quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock valued at $781,000 after buying an additional 315 shares during the period. Finally, Frontier Capital Management Co. LLC grew its position in Myriad Genetics by 4.4% during the first quarter. Frontier Capital Management Co. LLC now owns 3,363,970 shares of the company’s stock valued at $111,684,000 after buying an additional 140,404 shares during the period. 99.22% of the stock is owned by institutional investors.

Shares of NASDAQ:MYGN opened at $24.49 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.86 and a debt-to-equity ratio of 0.24. Myriad Genetics, Inc. has a 1-year low of $23.93 and a 1-year high of $50.44. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.54 and a beta of 0.55.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The firm had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $217.76 million. During the same period in the prior year, the firm earned $0.34 EPS. Myriad Genetics’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities research analysts predict that Myriad Genetics, Inc. will post 1.44 EPS for the current fiscal year.

In other Myriad Genetics news, insider Ralph L. Mcdade sold 1,975 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $31.00, for a total transaction of $61,225.00. Following the transaction, the insider now owns 122,604 shares of the company’s stock, valued at $3,800,724. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by insiders.

Several analysts recently issued reports on the stock. ValuEngine lowered shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $32.00 price target on shares of Myriad Genetics in a report on Tuesday, May 14th. They noted that the move was a valuation call. BidaskClub raised shares of Myriad Genetics from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Finally, Zacks Investment Research downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.19.

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Myriad Genetics Profile

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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Want to see what other hedge funds are holding MYGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myriad Genetics, Inc. (NASDAQ:MYGN).

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

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