Intech Investment Management LLC Purchases 193,215 Shares of Myriad Genetics, Inc. $MYGN

Intech Investment Management LLC grew its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 543.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,779 shares of the company’s stock after buying an additional 193,215 shares during the quarter. Intech Investment Management LLC’s holdings in Myriad Genetics were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MYGN. EverSource Wealth Advisors LLC grew its stake in Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after buying an additional 4,480 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Myriad Genetics by 1,088.7% during the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after buying an additional 3,745 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Myriad Genetics during the second quarter worth about $37,000. American Century Companies Inc. bought a new stake in Myriad Genetics during the second quarter worth about $55,000. Finally, Tower Research Capital LLC TRC grew its stake in Myriad Genetics by 283.0% during the second quarter. Tower Research Capital LLC TRC now owns 10,582 shares of the company’s stock worth $56,000 after buying an additional 7,819 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Insider Activity at Myriad Genetics

In related news, Director Paul Bisaro purchased 7,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were acquired 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 directly owned 97,441 shares of the company’s stock, valued at $359,557.29. This trade represents a 8.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samraat S. Raha acquired 40,000 shares of Myriad Genetics stock in a transaction on Monday, March 9th. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the chief executive officer owned 493,104 shares of the company’s stock, valued at approximately $2,465,520. The trade was a 8.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MYGN has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Wells Fargo & Company decreased their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Zacks Research raised shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings raised shares of Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Finally, TD Cowen decreased their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.50.

Myriad Genetics Price Performance

MYGN opened at $4.57 on Friday. Myriad Genetics, Inc. has a one year low of $3.53 and a one year high of $8.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.40 and a quick ratio of 2.19. The company’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $5.37. The stock has a market capitalization of $431.64 million, a P/E ratio of -1.06 and a beta of 1.73.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Myriad Genetics had a negative net margin of 48.24% and a negative return on equity of 8.51%. The company had revenue of $200.40 million for the quarter, compared to the consensus estimate of $202.42 million. During the same period last year, the company earned ($0.03) earnings per share. Myriad Genetics’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.17 earnings per share for the current fiscal year.

Myriad Genetics Profile

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.