Contrarius Investment Management Ltd cut its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 35.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 333,779 shares of the company’s stock after selling 182,142 shares during the period. Contrarius Investment Management Ltd owned about 0.49% of Myriad Genetics worth $8,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after buying an additional 9,536,219 shares during the period. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock valued at $120,020,000 after buying an additional 897,287 shares during the period. Camber Capital Management LLC boosted its stake in shares of Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock valued at $83,040,000 after buying an additional 265,000 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after buying an additional 41,432 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Myriad Genetics by 59.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock valued at $50,742,000 after buying an additional 987,966 shares during the period.

Shares of Myriad Genetics, Inc. (MYGN) traded down 0.5759% during trading on Tuesday, reaching $29.3997. 14,901 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $25.97 and its 200 day moving average price is $21.83. Myriad Genetics, Inc. has a 52 week low of $15.15 and a 52 week high of $29.69. The firm has a market capitalization of $2.01 billion, a PE ratio of 92.1621 and a beta of 0.31.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $200.50 million during the quarter, compared to analyst estimates of $193.71 million. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Analysts predict that Myriad Genetics, Inc. will post $1.02 EPS for the current fiscal year.

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Several analysts recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Myriad Genetics in a research note on Thursday, August 10th. BidaskClub upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Deutsche Bank AG upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating and reduced their price objective for the company from $27.86 to $15.00 in a research note on Friday, August 18th. Zacks Investment Research cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $22.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average 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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Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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