Victory Capital Management Inc. raised its position in Myriad Genetics, Inc. (NASDAQ:MYGN – Get Rating) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,378 shares of the company's stock after acquiring an additional 9,691 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Myriad Genetics worth $1,012,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MYGN. Earnest Partners LLC boosted its stake in shares of Myriad Genetics by 1.0% during the 4th quarter. Earnest Partners LLC now owns 6,316,365 shares of the company's stock valued at $174,332,000 after buying an additional 64,554 shares during the last quarter. State Street Corp boosted its stake in shares of Myriad Genetics by 2.7% during the 4th quarter. State Street Corp now owns 4,410,403 shares of the company's stock valued at $121,727,000 after buying an additional 115,570 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Myriad Genetics by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,429,078 shares of the company's stock valued at $39,442,000 after buying an additional 49,362 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Myriad Genetics by 1.7% during the 4th quarter. Sei Investments Co. now owns 797,946 shares of the company's stock valued at $22,023,000 after buying an additional 13,637 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Myriad Genetics by 6.5% during the 4th quarter. Nuveen Asset Management LLC now owns 608,022 shares of the company's stock valued at $15,824,000 after buying an additional 36,997 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.
Get Myriad Genetics alerts:Analyst Upgrades and Downgrades
Several equities analysts have recently commented on MYGN shares. StockNews.com cut Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Wednesday, July 13th. TheStreet cut Myriad Genetics from a "c-" rating to a "d+" rating in a research note on Friday, June 3rd. Cowen raised their price objective on Myriad Genetics to $32.00 in a research note on Tuesday, August 9th. The Goldman Sachs Group reduced their price objective on Myriad Genetics from $26.00 to $23.00 and set a "sell" rating on the stock in a research note on Tuesday, April 19th. Finally, SVB Leerink raised their price objective on Myriad Genetics from $26.00 to $30.00 and gave the stock a "market perform" rating in a research note on Friday, August 5th.
Insider Activity
In other news, Director Daniel K. Spiegelman sold 6,424 shares of the firm's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $19.25, for a total transaction of $123,662.00. Following the transaction, the director now directly owns 33,980 shares of the company's stock, valued at $654,115. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.Myriad Genetics Stock Performance
MYGN stock opened at $27.88 on Tuesday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -116.16 and a beta of 1.70. Myriad Genetics, Inc. has a 1 year low of $16.02 and a 1 year high of $36.95. The stock's fifty day moving average is $21.55 and its two-hundred day moving average is $22.90.
Myriad Genetics (NASDAQ:MYGN – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. The company had revenue of $179.30 million for the quarter, compared to analysts' expectations of $170.05 million. Myriad Genetics had a negative return on equity of 3.44% and a negative net margin of 2.62%. The firm's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. As a group, analysts predict that Myriad Genetics, Inc. will post -0.44 EPS for the current fiscal year.
About Myriad Genetics
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Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It 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, or 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.
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