Bayesian Capital Management LP Cuts Stake in Myriad Genetics, Inc. (MYGN)
Bayesian Capital Management LP lessened its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 23.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,000 shares of the company’s stock after selling 7,100 shares during the quarter. Bayesian Capital Management LP’s holdings in Myriad Genetics were worth $594,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of MYGN. BlackRock Inc. lifted its stake in shares of Myriad Genetics by 168,335.7% during the 1st quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after buying an additional 9,536,219 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of Myriad Genetics by 7,026.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock worth $70,862,000 after buying an additional 2,703,860 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Myriad Genetics by 59.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock worth $50,742,000 after buying an additional 987,966 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Myriad Genetics by 16.8% during the 1st 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 during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Myriad Genetics by 131.2% in the 1st quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock worth $17,632,000 after purchasing an additional 521,146 shares in the last quarter.
MYGN has been the subject of several analyst reports. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Barclays PLC dropped their price objective on shares of Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Cowen and Company reiterated a “hold” rating and issued a $25.00 price objective on shares of Myriad Genetics in a research note on Friday, July 14th. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $16.00 price objective on shares of Myriad Genetics in a research note on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Myriad Genetics currently has an average rating of “Hold” and an average target price of $23.44.
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In other news, Director John T. Henderson sold 30,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the sale, the director now directly owns 52,524 shares of the company’s stock, valued at $1,591,477.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.20% of the company’s stock.
Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) traded down 0.06% during trading on Friday, hitting $36.18. 642,879 shares of the stock traded hands. The stock has a 50-day moving average of $29.26 and a 200 day moving average of $23.47. The company has a market cap of $2.48 billion, a P/E ratio of 113.42 and a beta of 0.26. Myriad Genetics, Inc. has a 1-year low of $15.15 and a 1-year high of $36.45.
Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The firm had revenue of $200.50 million during the quarter, compared to analyst estimates of $193.71 million. During the same quarter last year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Myriad Genetics, Inc. will post $1.02 EPS for the current fiscal year.
Myriad Genetics Company 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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