Laurion Capital Management LP Takes Position in Myriad Genetics, Inc. (MYGN)
Laurion Capital Management LP acquired a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,600 shares of the company’s stock, valued at approximately $532,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Myriad Genetics in the second quarter valued at about $101,000. Riverhead Capital Management LLC lifted its position in Myriad Genetics by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after buying an additional 1,861 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Myriad Genetics in the first quarter valued at about $112,000. Fiduciary Trust Co. acquired a new position in Myriad Genetics in the second quarter valued at about $113,000. Finally, Ronald Blue & Co. LLC acquired a new position in Myriad Genetics in the second quarter valued at about $208,000.
A number of research firms have commented on MYGN. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 target price (up previously from $21.00) on shares of Myriad Genetics in a research report on Thursday, August 10th. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a research report on Sunday, September 17th. BidaskClub raised shares of Myriad Genetics from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and decreased their target price for the company from $27.86 to $15.00 in a research report on Friday, August 18th. Finally, Stephens reaffirmed an “overweight” rating and issued a $40.00 target price (up previously from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Two 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. The stock currently has a consensus rating of “Hold” and an average price target of $23.44.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $30.30, for a total value of $909,000.00. Following the transaction, the director now directly owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.20% of the company’s stock.
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Myriad Genetics, Inc. (MYGN) opened at 36.00 on Thursday. Myriad Genetics, Inc. has a 52 week low of $15.15 and a 52 week high of $36.09. The firm has a 50-day moving average of $29.26 and a 200 day moving average of $23.47. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 112.85 and a beta of 0.26.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The company had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. During the same period in the prior year, the company posted $0.36 EPS. Myriad Genetics’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that Myriad Genetics, Inc. will post $1.02 EPS for the current year.
Myriad Genetics Profile
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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