Rice Hall James & Associates LLC Takes Position in Myriad Genetics Inc. (MYGN)
Rice Hall James & Associates LLC bought a new position in Myriad Genetics Inc. (NASDAQ:MYGN) during the second quarter, according to its most recent filing with the SEC. The firm bought 526,184 shares of the company’s stock, valued at approximately $16,101,000. Rice Hall James & Associates LLC owned about 0.75% of Myriad Genetics as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MYGN. Acrospire Investment Management LLC purchased a new position in shares of Myriad Genetics during the first quarter valued at about $109,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Myriad Genetics during the first quarter valued at about $148,000. BlackRock Inc. raised its position in shares of Myriad Genetics by 123.4% in the first quarter. BlackRock Inc. now owns 4,715 shares of the company’s stock valued at $176,000 after buying an additional 2,604 shares during the period. Adams Diversified Equity Fund Inc. purchased a new position in shares of Myriad Genetics during the second quarter valued at about $187,000. Finally, Magnetar Financial LLC purchased a new position in shares of Myriad Genetics during the first quarter valued at about $266,000.
Shares of Myriad Genetics Inc. (NASDAQ:MYGN) traded up 0.562% during midday trading on Tuesday, hitting $20.585. 1,763,814 shares of the stock were exchanged. The firm’s 50 day moving average is $20.99 and its 200-day moving average is $30.44. Myriad Genetics Inc. has a 1-year low of $19.10 and a 1-year high of $46.24. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.038 and a beta of 0.54.
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. Myriad Genetics had a return on equity of 16.06% and a net margin of 14.98%. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $187.95 million. During the same period in the prior year, the business earned $0.41 EPS. Myriad Genetics’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts predict that Myriad Genetics Inc. will post $1.07 EPS for the current year.
MYGN has been the subject of several research analyst reports. Stephens set a $30.00 price target on shares of Myriad Genetics and gave the company a “buy” rating in a report on Thursday, August 11th. Zacks Investment Research raised 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 lowered shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $50.00 to $24.00 in a report on Wednesday, August 10th. Jefferies Group decreased 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 lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating and decreased their price target for the company from $46.00 to $32.00 in a report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $32.21.
In related news, Director John T. Henderson sold 30,000 shares of Myriad Genetics stock in a transaction on Monday, September 12th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Christopher Capone purchased 10,000 shares of Myriad Genetics stock in a transaction on Friday, August 19th. The stock was bought 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 of the company’s stock, valued at approximately $3,101,592.24. The disclosure for this purchase can be found here. Corporate 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.
Receive News & Stock Ratings for Myriad Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Myriad Genetics Inc. and related stocks with our FREE daily email newsletter.