Handelsbanken Fonder AB Has $747,000 Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Handelsbanken Fonder AB boosted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,288 shares of the company’s stock after acquiring an additional 3,100 shares during the period. Handelsbanken Fonder AB’s holdings in Myriad Genetics were worth $747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its position in Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after acquiring an additional 491 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock valued at $186,000 after buying an additional 720 shares during the last quarter. Arizona State Retirement System raised its position in shares of Myriad Genetics by 3.4% during the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after buying an additional 829 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Myriad Genetics by 1.5% during the second quarter. Federated Hermes Inc. now owns 56,807 shares of the company’s stock valued at $1,389,000 after buying an additional 846 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in shares of Myriad Genetics by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after buying an additional 889 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Insiders Place Their Bets

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,012 shares of company stock valued at $1,900,485. 2.10% of the stock is currently owned by insiders.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock opened at $24.08 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -8.54 and a beta of 1.91. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $29.30. The firm’s 50-day moving average price is $27.09 and its two-hundred day moving average price is $24.54.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MYGN shares. Piper Sandler upped their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Wells Fargo & Company started coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. Morgan Stanley started coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.91.

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.