Dimensional Fund Advisors LP Purchases 75,445 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Dimensional Fund Advisors LP raised its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,776,959 shares of the company’s stock after acquiring an additional 75,445 shares during the period. Dimensional Fund Advisors LP owned approximately 3.07% of Myriad Genetics worth $67,924,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Myriad Genetics by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock valued at $213,961,000 after buying an additional 81,475 shares during the period. Wellington Management Group LLP lifted its stake in shares of Myriad Genetics by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after buying an additional 1,223,446 shares during the period. Glenview Capital Management LLC lifted its stake in shares of Myriad Genetics by 39.6% in the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after buying an additional 1,500,000 shares during the period. Earnest Partners LLC lifted its stake in shares of Myriad Genetics by 0.5% in the first quarter. Earnest Partners LLC now owns 3,933,058 shares of the company’s stock valued at $83,853,000 after buying an additional 19,145 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Myriad Genetics by 6.1% in the first quarter. Sei Investments Co. now owns 2,293,185 shares of the company’s stock valued at $48,891,000 after buying an additional 131,751 shares during the period. 99.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Myriad Genetics in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price target for the company. Jefferies Financial Group reissued an “underperform” rating and issued a $20.00 price target (down previously from $25.00) on shares of Myriad Genetics in a research 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 report on Wednesday, August 7th. Finally, Piper Sandler increased their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Myriad Genetics has a consensus rating of “Hold” and a consensus price target of $28.91.

Insider Activity

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Myriad Genetics Price Performance

MYGN opened at $26.46 on Friday. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The company’s 50 day simple moving average is $27.46 and its 200-day simple moving average is $24.24. The stock has a market capitalization of $2.39 billion, a P/E ratio of -9.38 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. Myriad Genetics’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Myriad Genetics Company Profile

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.