Rhumbline Advisers Buys 3,575 Shares of Myriad Genetics, Inc. (MYGN)
Rhumbline Advisers increased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 2.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 137,380 shares of the company’s stock after acquiring an additional 3,575 shares during the period. Rhumbline Advisers owned approximately 0.20% of Myriad Genetics worth $4,970,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MYGN. SG Americas Securities LLC acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $101,000. Riverhead Capital Management LLC lifted its position in Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock worth $107,000 after acquiring an additional 1,861 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $113,000. Meeder Asset Management Inc. lifted its position in Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock worth $119,000 after acquiring an additional 3,010 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Myriad Genetics during the 2nd quarter worth approximately $218,000.
In other news, insider Alexander Ford sold 3,031 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $31.64, for a total value of $95,900.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.70% of the stock is currently owned by insiders.
Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) opened at $33.82 on Monday. The company has a current ratio of 2.34, a quick ratio of 2.06 and a debt-to-equity ratio of 0.09. Myriad Genetics, Inc. has a twelve month low of $15.15 and a twelve month high of $37.30. The stock has a market capitalization of $2,341.73, a P/E ratio of 31.03, a price-to-earnings-growth ratio of 2.14 and a beta of 0.25.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a return on equity of 9.54% and a net margin of 13.28%. The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. During the same period in the previous year, the business earned $0.23 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. equities analysts anticipate that Myriad Genetics, Inc. will post 1.05 earnings per share for the current fiscal year.
MYGN has been the topic of several analyst reports. Barclays dropped their price objective on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 9th. ValuEngine upgraded Myriad Genetics from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Deutsche Bank lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Morgan Stanley lifted their price objective on Myriad Genetics from $24.00 to $26.00 and gave the stock an “underweight” rating in a report on Wednesday, November 8th. Finally, Leerink Swann restated a “market perform” rating and set a $31.00 price objective on shares of Myriad Genetics in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $28.10.
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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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