Rice Hall James & Associates LLC purchased a new position in Myriad Genetics Inc. (NASDAQ:MYGN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 526,184 shares of the company’s stock, valued at approximately $16,101,000.
A number of other large investors also recently bought and sold shares of MYGN. Acrospire Investment Management LLC bought a new stake in Myriad Genetics during the first quarter worth approximately $109,000. C M Bidwell & Associates Ltd. bought a new stake in Myriad Genetics during the first quarter worth approximately $148,000. BlackRock Inc. boosted its stake in Myriad Genetics by 123.4% in the first quarter. BlackRock Inc. now owns 4,715 shares of the company’s stock worth $176,000 after buying an additional 2,604 shares during the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in Myriad Genetics during the second quarter worth approximately $187,000. Finally, Magnetar Financial LLC bought a new stake in Myriad Genetics during the first quarter worth approximately $266,000.
Shares of Myriad Genetics Inc. (NASDAQ:MYGN) traded up 0.562% during mid-day trading on Tuesday, reaching $20.585. 1,763,814 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $20.99 and its 200-day moving average price is $30.44. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 12.038 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.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.36 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 earned $186.50 million during the quarter, compared to the consensus estimate of $187.95 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Myriad Genetics Inc. will post $1.07 earnings per share for the current year.
MYGN has been the subject of a number of research reports. Stephens set a $30.00 price target on shares of Myriad Genetics and gave the stock a “buy” rating in a report on Thursday, August 11th. Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, July 27th. Barclays PLC cut shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $50.00 to $24.00 in a report on Wednesday, August 10th. Jefferies Group reduced their price target on shares of Myriad Genetics from $34.00 to $20.00 and set a “hold” rating for the company in a report on Thursday, August 11th. Finally, Gabelli cut shares of Myriad Genetics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $46.00 to $32.00 in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.21.
In other Myriad Genetics news, insider Mark Christopher Capone purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was bought at an average cost of $21.24 per share, for a total transaction of $212,400.00. Following the purchase, the insider now directly owns 146,026 shares in the company, valued at $3,101,592.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Henderson sold 30,000 shares of the 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 completion of the transaction, the director now owns 49,493 shares of the company’s stock, valued at $1,014,111.57. The disclosure for this sale can be found here. 5.80% of the stock is currently 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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