Geode Capital Management LLC Increases Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)
Geode Capital Management LLC raised its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 661,307 shares of the company’s stock after buying an additional 19,251 shares during the period. Geode Capital Management LLC owned about 0.97% of Myriad Genetics worth $12,696,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock worth $120,020,000 after buying an additional 897,287 shares in the last quarter. Thrivent Financial For Lutherans purchased a new stake in Myriad Genetics during the first quarter worth approximately $739,000. Chartwell Investment Partners LLC boosted its stake in Myriad Genetics by 27.6% in the first quarter. Chartwell Investment Partners LLC now owns 152,715 shares of the company’s stock worth $2,932,000 after buying an additional 33,000 shares in the last quarter. Ngam Advisors L.P. boosted its stake in Myriad Genetics by 7.0% in the first quarter. Ngam Advisors L.P. now owns 94,900 shares of the company’s stock worth $1,822,000 after buying an additional 6,202 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Myriad Genetics by 382.0% in the first quarter. Legal & General Group Plc now owns 121,700 shares of the company’s stock worth $2,336,000 after buying an additional 96,452 shares in the last quarter.
Shares of Myriad Genetics, Inc. (MYGN) traded up 3.37% on Friday, hitting $28.80. 1,315,637 shares of the stock traded hands. Myriad Genetics, Inc. has a 52 week low of $15.15 and a 52 week high of $29.01. The stock has a 50 day moving average price of $25.48 and a 200-day moving average price of $21.36. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 90.28 and a beta of 0.31.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The business had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Myriad Genetics, Inc. will post $1.02 EPS for the current year.
A number of brokerages recently weighed in on MYGN. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 target price (up from $21.00) on shares of Myriad Genetics in a research note on Thursday, August 10th. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and reduced their target price for the stock from $27.86 to $15.00 in a research note on Friday. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Cowen and Company restated a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a research note on Monday, August 14th. Finally, Zacks Investment Research downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $21.22.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment 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 to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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