Shell Asset Management Co. grew its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 34.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 54,867 shares of the company’s stock after purchasing an additional 14,021 shares during the quarter. Shell Asset Management Co. owned 0.08% of Myriad Genetics worth $2,116,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Myriad Genetics in the second quarter worth about $101,000. Riverhead Capital Management LLC increased its stake in shares of Myriad Genetics by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock worth $107,000 after purchasing an additional 1,861 shares during the period. Fiduciary Trust Co. bought a new position in Myriad Genetics during the second quarter valued at about $113,000. Ronald Blue & Co. LLC bought a new position in Myriad Genetics during the second quarter valued at about $208,000. Finally, CIBC Asset Management Inc bought a new position in Myriad Genetics during the second quarter valued at about $218,000.
A number of research analysts have recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and issued a $24.00 price target (up previously from $17.00) on shares of Myriad Genetics in a research note on Friday, October 6th. Leerink Swann restated a “market perform” rating and issued a $31.00 price objective on shares of Myriad Genetics in a research report on Monday, October 2nd. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Tuesday, October 17th. Stephens restated an “overweight” rating and set a $40.00 price objective (up from $36.00) on shares of Myriad Genetics in a research note on Friday, September 22nd. Finally, Cowen and Company restated a “hold” rating and set a $25.00 price objective on shares of Myriad Genetics in a research note on Sunday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.10.
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Shares of Myriad Genetics, Inc. (MYGN) traded up $0.46 during trading hours on Friday, hitting $31.55. 812,200 shares of the stock were exchanged, compared to its average volume of 1,222,419. The company has a current ratio of 2.34, a quick ratio of 1.26 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2,152.70, a price-to-earnings ratio of 28.52, a PEG ratio of 2.00 and a beta of 0.24. Myriad Genetics, Inc. has a 52 week low of $15.15 and a 52 week high of $37.30.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. research analysts anticipate that Myriad Genetics, Inc. will post 1.04 earnings per share for the current fiscal year.
In other Myriad Genetics news, Director John T. Henderson sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the transaction, the director now directly owns 52,524 shares in the company, valued at $1,591,477.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.70% of the stock is owned by insiders.
Myriad Genetics Profile
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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