Bamco Inc. NY Buys 79,000 Shares of Myriad Genetics, Inc. (MYGN)
Bamco Inc. NY increased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 57.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,500 shares of the company’s stock after buying an additional 79,000 shares during the quarter. Bamco Inc. NY owned about 0.32% of Myriad Genetics worth $5,569,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of MYGN. Municipal Employees Retirement System of Michigan increased its position in Myriad Genetics by 3.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,080 shares of the company’s stock worth $416,000 after buying an additional 490 shares during the period. Aperio Group LLC lifted its stake in Myriad Genetics by 4.6% in the second quarter. Aperio Group LLC now owns 12,129 shares of the company’s stock valued at $313,000 after buying an additional 534 shares during the last quarter. LeJeune Puetz Investment Counsel LLC lifted its stake in Myriad Genetics by 3.3% in the second quarter. LeJeune Puetz Investment Counsel LLC now owns 31,025 shares of the company’s stock valued at $802,000 after buying an additional 1,000 shares during the last quarter. Teachers Advisors LLC lifted its stake in Myriad Genetics by 1.1% in the first quarter. Teachers Advisors LLC now owns 116,924 shares of the company’s stock valued at $2,245,000 after buying an additional 1,287 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Myriad Genetics by 1.2% during the first quarter. Public Employees Retirement System of Ohio now owns 141,556 shares of the company’s stock valued at $2,718,000 after acquiring an additional 1,648 shares during the period.
MYGN has been the topic of a number of analyst reports. Leerink Swann initiated coverage on shares of Myriad Genetics in a report on Monday. They issued a “market perform” rating and a $31.00 price objective on the stock. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Cowen and Company reissued a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a research note on Monday, August 14th. Barclays PLC reduced their target price 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. Finally, Stephens restated 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, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.20.
In other news, Director John T. Henderson sold 30,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.30, for a total transaction of $909,000.00. Following the sale, the director now owns 52,524 shares in the company, valued at $1,591,477.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by insiders.
Shares of Myriad Genetics, Inc. (MYGN) opened at 36.18 on Monday. The stock has a 50 day moving average of $29.26 and a 200-day moving average of $23.47. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 113.42 and a beta of 0.27. Myriad Genetics, Inc. has a 52 week low of $15.15 and a 52 week high of $36.49.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results 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 return on equity of 9.67% and a net margin of 2.83%. The firm had revenue of $200.50 million during the quarter, compared to analysts’ expectations of $193.71 million. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Analysts expect that Myriad Genetics, Inc. will post $1.02 earnings per share for the current year.
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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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