Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Quest Partners LLC

Quest Partners LLC raised its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 10,724.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,304 shares of the company’s stock after purchasing an additional 5,255 shares during the period. Quest Partners LLC’s holdings in Myriad Genetics were worth $130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hexagon Capital Partners LLC increased its holdings in shares of Myriad Genetics by 75.3% in 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 period. Innealta Capital LLC acquired a new stake in shares of Myriad Genetics in the second quarter valued at $36,000. Neo Ivy Capital Management bought a new position in Myriad Genetics during the second quarter valued at about $85,000. Ameritas Investment Partners Inc. grew its holdings in Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after acquiring an additional 720 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Myriad Genetics by 90.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock worth $188,000 after acquiring an additional 4,193 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MYGN. Jefferies Financial Group restated 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. Scotiabank increased their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, TD Cowen upped their price target 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.60.

Insider Transactions at Myriad Genetics

In other news, 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 completion of the sale, the director now owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction 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 sale, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Up 1.1 %

MYGN stock opened at $27.90 on Tuesday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -9.89 and a beta of 1.92. Myriad Genetics, Inc. has a twelve month low of $13.82 and a twelve month high of $29.08. The business has a 50 day moving average price of $27.29 and a two-hundred day moving average price of $23.96. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05.

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

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.