BlackRock Inc. increased its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,466,610 shares of the company’s stock after acquiring an additional 383,089 shares during the period. BlackRock Inc. owned approximately 15.35% of Myriad Genetics worth $527,464,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in Myriad Genetics by 2.6% during the 3rd quarter. Acadian Asset Management LLC now owns 2,387,166 shares of the company’s stock valued at $109,812,000 after buying an additional 59,446 shares during the period. GHP Investment Advisors Inc. increased its stake in Myriad Genetics by 4.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 53,290 shares of the company’s stock valued at $1,991,000 after buying an additional 2,305 shares during the period. United Services Automobile Association increased its stake in Myriad Genetics by 206.8% during the 2nd quarter. United Services Automobile Association now owns 104,981 shares of the company’s stock valued at $1,916,000 after buying an additional 70,766 shares during the period. Swiss National Bank increased its stake in Myriad Genetics by 2.6% during the 2nd quarter. Swiss National Bank now owns 121,600 shares of the company’s stock valued at $4,544,000 after buying an additional 3,100 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Myriad Genetics by 76.8% during the 2nd quarter. Wells Fargo & Company MN now owns 376,515 shares of the company’s stock valued at $14,071,000 after buying an additional 163,613 shares during the period. 99.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. Barclays cut shares of Myriad Genetics from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $38.00 to $30.00 in a research note on Wednesday, September 5th. BidaskClub raised shares of Myriad Genetics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research cut shares of Myriad Genetics from a “buy” rating to a “sell” rating in a research note on Monday, August 27th. Bank of America lifted their price objective on shares of Myriad Genetics from $31.00 to $34.00 and gave the stock a “sell” rating in a research note on Wednesday, August 22nd. Finally, ValuEngine cut shares of Myriad Genetics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.90.
Shares of MYGN opened at $31.51 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.17. Myriad Genetics, Inc. has a 12-month low of $27.27 and a 12-month high of $50.44.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.13. The company had revenue of $202.30 million for the quarter, compared to analysts’ expectations of $203.20 million. Myriad Genetics had a net margin of 7.07% and a return on equity of 10.07%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, research analysts forecast that Myriad Genetics, Inc. will post 1.5 EPS for the current fiscal year.
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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; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; 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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