Paul J. Diaz Sells 15,000 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Myriad Genetics Trading Up 4.4 %

MYGN opened at $24.08 on Friday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -8.54 and a beta of 1.91. Myriad Genetics, Inc. has a 52 week low of $13.82 and a 52 week high of $29.30. The business’s 50 day moving average is $27.09 and its two-hundred day moving average is $24.54. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, research analysts predict that Myriad Genetics, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MYGN shares. Piper Sandler lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective for the company. TD Cowen lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Scotiabank lifted their price objective on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics has a consensus rating of “Hold” and an average price target of $28.91.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MYGN. Glenview Capital Management LLC increased its position in Myriad Genetics by 39.6% during the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after buying an additional 1,500,000 shares during the period. Virtu Financial LLC acquired a new position in shares of Myriad Genetics in the fourth quarter valued at approximately $428,000. Wellington Management Group LLP increased its holdings in shares of Myriad Genetics by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after purchasing an additional 1,223,446 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Myriad Genetics by 10.7% in the fourth quarter. Fisher Asset Management LLC now owns 157,969 shares of the company’s stock valued at $3,024,000 after purchasing an additional 15,313 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Myriad Genetics by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock valued at $190,524,000 after purchasing an additional 789,496 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Company 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.