Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 9,954,233 shares of the company’s stock after purchasing an additional 789,496 shares during the period. Vanguard Group Inc. owned about 0.11% of Myriad Genetics worth $190,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MYGN. Blue Trust Inc. grew its holdings in Myriad Genetics by 21.4% during the fourth quarter. Blue Trust Inc. now owns 6,729 shares of the company’s stock worth $129,000 after acquiring an additional 1,186 shares during the period. Clarus Wealth Advisors acquired a new position in shares of Myriad Genetics during the 4th quarter worth $204,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Myriad Genetics by 388.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,253 shares of the company’s stock valued at $196,000 after purchasing an additional 8,152 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Myriad Genetics by 8.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company’s stock valued at $297,000 after buying an additional 1,167 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Myriad Genetics by 19.3% in the 4th quarter. Handelsbanken Fonder AB now owns 17,288 shares of the company’s stock valued at $331,000 after purchasing an additional 2,800 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MYGN. Jefferies Financial Group reissued an “underperform” rating and set a $20.00 price objective (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Scotiabank assumed coverage on Myriad Genetics in a research report on Thursday, June 27th. They set a “sector outperform” rating and a $29.00 price objective for the company. Piper Sandler upped their target price on shares of Myriad Genetics from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 13th. SVB Leerink raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $25.00 to $35.00 in a research note on Wednesday, May 8th. Finally, Leerink Partnrs raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.33.

Myriad Genetics Trading Up 3.3 %

Shares of MYGN stock opened at $24.76 on Wednesday. The firm’s 50-day simple moving average is $22.87 and its 200-day simple moving average is $21.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.99 and a quick ratio of 1.82. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $25.95. The firm has a market cap of $2.24 billion, a P/E ratio of -8.78 and a beta of 1.95.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Myriad Genetics had a negative net margin of 30.30% and a negative return on equity of 6.77%. The company had revenue of $202.20 million for the quarter, compared to the consensus estimate of $193.51 million. During the same quarter last year, the firm posted ($0.28) earnings per share. Myriad Genetics’s revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Myriad Genetics, Inc. will post -0.36 EPS for the current year.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Daniel K. Spiegelman sold 3,788 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the sale, the director now owns 36,705 shares of the company’s stock, valued at $808,978.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Myriad Genetics news, Director Lee Nisley Newcomer sold 6,200 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $25.30, for a total value of $156,860.00. Following the transaction, the director now directly owns 66,650 shares of the company’s stock, valued at $1,686,245. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel K. Spiegelman sold 3,788 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.04, for a total value of $83,487.52. Following the completion of the sale, the director now directly owns 36,705 shares of the company’s stock, valued at approximately $808,978.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,832 shares of company stock worth $3,574,217. 2.10% of the stock is owned by insiders.

Myriad Genetics Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.