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.
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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