Colleen F. Reitan Sells 46,012 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the sale, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Myriad Genetics Trading Up 9.1 %

NASDAQ:MYGN opened at $27.66 on Friday. The company’s 50 day moving average price is $26.97 and its 200-day moving average price is $23.74. Myriad Genetics, Inc. has a 52 week low of $13.82 and a 52 week high of $29.08. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -9.81 and a beta of 1.95.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The firm had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts forecast that Myriad Genetics, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MYGN has been the subject of a number of analyst reports. Jefferies Financial Group reiterated an “underperform” rating and set a $20.00 target price (down from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. TD Cowen increased their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, Scotiabank increased their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics has a consensus rating of “Hold” and a consensus target price of $28.60.

Institutional Investors Weigh In On Myriad Genetics

A number of institutional investors have recently made changes to their positions in the company. Glenview Capital Management LLC boosted its holdings in Myriad Genetics by 39.6% in the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after purchasing an additional 1,500,000 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in Myriad Genetics in the first quarter worth approximately $467,000. Natixis Advisors L.P. boosted its holdings in Myriad Genetics by 44.3% in the fourth quarter. Natixis Advisors L.P. now owns 190,278 shares of the company’s stock worth $3,641,000 after purchasing an additional 58,449 shares during the last quarter. AMH Equity Ltd purchased a new position in shares of Myriad Genetics during the 1st quarter worth $2,345,000. Finally, Wellington Management Group LLP boosted its stake in shares of Myriad Genetics by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after acquiring an additional 1,223,446 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also 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, and 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.