Robecosam AG Has $156,000 Stake in Myriad Genetics, Inc. (MYGN)
Robecosam AG increased its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 39.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,193 shares of the company’s stock after acquiring an additional 1,193 shares during the period. Robecosam AG’s holdings in Myriad Genetics were worth $156,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Myriad Genetics by 59.5% during the 1st quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock valued at $136,000 after purchasing an additional 1,715 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of Myriad Genetics during the 1st quarter valued at $176,000. Victory Capital Management Inc. bought a new stake in shares of Myriad Genetics during the 1st quarter valued at $185,000. Commonwealth Equity Services LLC bought a new stake in shares of Myriad Genetics during the 2nd quarter valued at $205,000. Finally, Meeder Asset Management Inc. raised its position in shares of Myriad Genetics by 114.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,893 shares of the company’s stock valued at $258,000 after purchasing an additional 3,674 shares during the period.
In other Myriad Genetics news, Director Dennis Langer sold 49,631 shares of Myriad Genetics stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $39.30, for a total value of $1,950,498.30. Following the sale, the director now directly owns 69,743 shares in the company, valued at approximately $2,740,899.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Christopher Capone sold 80,000 shares of the business’s stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $41.00, for a total transaction of $3,280,000.00. Following the completion of the sale, the insider now owns 184,948 shares in the company, valued at $7,582,868. The disclosure for this sale can be found here. Over the last quarter, insiders sold 496,811 shares of company stock worth $19,897,716. 6.70% of the stock is currently owned by insiders.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, August 21st. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $200.90 million for the quarter, compared to the consensus estimate of $195.93 million. Myriad Genetics had a net margin of 17.69% and a return on equity of 9.78%. Myriad Genetics’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. equities analysts forecast that Myriad Genetics, Inc. will post 1.58 earnings per share for the current year.
MYGN has been the topic of several recent analyst reports. Barclays raised their price objective on shares of Myriad Genetics from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday. Bank of America raised their price objective on shares of Myriad Genetics from $20.00 to $31.00 and gave the company an “underperform” rating in a research report on Monday, July 16th. Morgan Stanley upgraded shares of Myriad Genetics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $55.00 in a research report on Wednesday, July 11th. ValuEngine downgraded shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, TheStreet upgraded shares of Myriad Genetics from a “c+” rating to a “b” rating in a research report on Monday, June 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $39.00.
Myriad Genetics Company Profile
Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BART, a DNA sequencing test for hereditary breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.
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