Myriad Genetics, Inc. $MYGN Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,225,371 shares of the company’s stock after purchasing an additional 342,856 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Myriad Genetics worth $50,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aberdeen Group plc raised its position in shares of Myriad Genetics by 178.3% during the 3rd quarter. Aberdeen Group plc now owns 639,053 shares of the company’s stock worth $4,620,000 after purchasing an additional 409,460 shares during the period. Royce & Associates LP bought a new position in Myriad Genetics in the 3rd quarter worth approximately $4,844,000. AMH Equity Ltd grew its holdings in Myriad Genetics by 33.3% in the 3rd quarter. AMH Equity Ltd now owns 400,000 shares of the company’s stock worth $2,892,000 after buying an additional 100,000 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Myriad Genetics in the 4th quarter worth approximately $722,000. Finally, Cornerstone Investment Partners LLC bought a new position in Myriad Genetics in the 3rd quarter worth approximately $207,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN opened at $3.58 on Friday. The stock has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $5.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40. The firm has a market cap of $338.12 million, a P/E ratio of -0.83 and a beta of 1.81. Myriad Genetics, Inc. has a 1 year low of $3.57 and a 1 year high of $8.59.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $200.40 million for the quarter, compared to the consensus estimate of $202.42 million. Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. Research analysts forecast that Myriad Genetics, Inc. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MYGN shares. TD Cowen decreased their price objective on Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Zacks Research raised Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. UBS Group decreased their price objective on Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Wells Fargo & Company decreased their price objective on Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and a consensus price target of $6.40.

Insider Buying and Selling at Myriad Genetics

In other news, CEO Samraat S. Raha purchased 40,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $5.00 per share, with a total value of $200,000.00. Following the purchase, the chief executive officer owned 493,104 shares in the company, valued at $2,465,520. This trade represents a 8.83% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Bisaro purchased 7,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $3.69 per share, with a total value of $27,675.00. Following the completion of the purchase, the director owned 97,441 shares in the company, valued at $359,557.29. This represents a 8.34% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 152,007 shares of company stock valued at $722,223. 1.90% of the stock is owned by corporate insiders.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.