Myriad Genetics, Inc. (MYGN) Holdings Boosted by New York State Common Retirement Fund
New York State Common Retirement Fund raised its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,878 shares of the company’s stock after purchasing an additional 2,799 shares during the period. New York State Common Retirement Fund owned 0.35% of Myriad Genetics worth $6,095,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of MYGN. Bank of New York Mellon Corp lifted its holdings in Myriad Genetics by 131.2% during the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after purchasing an additional 521,146 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Myriad Genetics by 45.0% during the first quarter. UBS Asset Management Americas Inc. now owns 34,364 shares of the company’s stock valued at $660,000 after purchasing an additional 10,667 shares in the last quarter. Karp Capital Management Corp purchased a new position in Myriad Genetics during the first quarter valued at $223,000. Ameriprise Financial Inc. purchased a new position in Myriad Genetics during the first quarter valued at $6,992,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in Myriad Genetics by 126.1% during the first quarter. Parametric Portfolio Associates LLC now owns 254,623 shares of the company’s stock valued at $4,889,000 after purchasing an additional 141,993 shares in the last quarter.
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In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the company’s 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 transaction, the director now directly owns 52,524 shares in the company, valued at approximately $1,591,477.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.
Myriad Genetics, Inc. (NASDAQ MYGN) opened at 36.44 on Friday. Myriad Genetics, Inc. has a 1-year low of $15.15 and a 1-year high of $37.30. The stock has a market capitalization of $2.49 billion, a P/E ratio of 114.23 and a beta of 0.28. The stock has a 50 day moving average of $33.76 and a 200 day moving average of $25.56.
Myriad Genetics (NASDAQ:MYGN) last released 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. The company had revenue of $200.50 million for the quarter, compared to analyst estimates of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. On average, analysts expect that Myriad Genetics, Inc. will post $1.03 earnings per share for the current year.
Several research firms have issued reports on MYGN. Morgan Stanley reaffirmed an “underweight” rating and set a $24.00 price objective (up from $17.00) on shares of Myriad Genetics in a report on Friday, October 6th. Leerink Swann reaffirmed a “market perform” rating and set a $31.00 price objective on shares of Myriad Genetics in a report on Monday, October 2nd. Stephens reaffirmed an “overweight” rating and set a $40.00 price objective (up from $36.00) on shares of Myriad Genetics in a report on Friday, September 22nd. Cowen and Company reaffirmed a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a report on Sunday, September 17th. Finally, Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and decreased their price objective for the company from $27.86 to $15.00 in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.00.
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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