Capital Fund Management S.A. purchased a new position in shares of Myriad Genetics Inc. (NASDAQ:MYGN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 96,034 shares of the company’s stock, valued at approximately $2,939,000.
A number of other hedge funds have also recently modified their holdings of MYGN. State Street Corp boosted its position in Myriad Genetics by 9.3% in the first quarter. State Street Corp now owns 2,200,112 shares of the company’s stock worth $82,349,000 after buying an additional 188,101 shares during the period. BNP Paribas Arbitrage SA boosted its position in Myriad Genetics by 28.6% in the second quarter. BNP Paribas Arbitrage SA now owns 19,992 shares of the company’s stock worth $612,000 after buying an additional 4,449 shares during the period. Teachers Advisors Inc. boosted its position in Myriad Genetics by 13.3% in the first quarter. Teachers Advisors Inc. now owns 114,875 shares of the company’s stock worth $4,300,000 after buying an additional 13,509 shares during the period. BlackRock Group LTD boosted its position in Myriad Genetics by 61.1% in the first quarter. BlackRock Group LTD now owns 73,460 shares of the company’s stock worth $2,749,000 after buying an additional 27,868 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Myriad Genetics by 9.0% in the first quarter. Renaissance Technologies LLC now owns 1,034,800 shares of the company’s stock worth $38,733,000 after buying an additional 85,200 shares during the period.
Myriad Genetics Inc. (NASDAQ:MYGN) traded up 0.562% on Tuesday, hitting $20.585. 1,763,814 shares of the stock were exchanged. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 12.038 and a beta of 0.54. The company has a 50-day moving average of $20.97 and a 200-day moving average of $30.31. Myriad Genetics Inc. has a 12 month low of $19.10 and a 12 month high of $46.24.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $186.50 million for the quarter, compared to the consensus estimate of $187.95 million. Myriad Genetics had a net margin of 14.98% and a return on equity of 16.06%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities analysts predict that Myriad Genetics Inc. will post $1.07 EPS for the current year.
A number of research firms have recently issued reports on MYGN. Gabelli cut shares of Myriad Genetics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $32.00 in a research report on Wednesday, August 10th. Morgan Stanley lowered their target price on shares of Myriad Genetics from $25.00 to $21.00 and set an “underweight” rating on the stock in a report on Wednesday, August 10th. Bank of America Corp. lowered shares of Myriad Genetics from a “neutral” rating to an “underperform” rating and set a $25.00 target price on the stock. in a report on Friday, July 29th. Jefferies Group lowered their target price on shares of Myriad Genetics from $34.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, August 11th. Finally, Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.21.
In other Myriad Genetics news, insider Mark Christopher Capone acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were acquired at an average price of $21.24 per share, with a total value of $212,400.00. Following the completion of the purchase, the insider now directly owns 146,026 shares of the company’s stock, valued at approximately $3,101,592.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $20.49, for a total transaction of $614,700.00. Following the sale, the director now directly owns 49,493 shares in the company, valued at approximately $1,014,111.57. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.
About Myriad Genetics
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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