Inspire Investing LLC Sells 2,226 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Inspire Investing LLC reduced its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 13.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,429 shares of the company’s stock after selling 2,226 shares during the period. Inspire Investing LLC’s holdings in Myriad Genetics were worth $353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glenview Capital Management LLC lifted its position 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 last quarter. Wellington Management Group LLP lifted its holdings in Myriad Genetics by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after purchasing an additional 1,223,446 shares during the last quarter. Vanguard Group Inc. boosted its position in Myriad Genetics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after purchasing an additional 789,496 shares during the period. Sei Investments Co. increased its holdings in shares of Myriad Genetics by 41.9% in the fourth quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock valued at $41,370,000 after purchasing an additional 638,147 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Myriad Genetics by 80.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company’s stock valued at $7,620,000 after purchasing an additional 149,234 shares during the period. Institutional investors own 99.02% of the company’s stock.

Insider Activity at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 legal filing with the SEC, which is accessible through this link. Also, Director Heinrich Dreismann sold 10,000 shares of the company’s 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 owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company assumed 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 on the stock. TD Cowen increased their target price on 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. boosted their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated an “underperform” rating and set a $20.00 price objective (down previously from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Finally, Scotiabank boosted their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.91.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $27.64 on Monday. 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 company has a market cap of $2.50 billion, a PE ratio of -9.80 and a beta of 1.92. The company has a 50 day moving average of $27.49 and a 200-day moving average of $24.13. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results 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. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $206.44 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that Myriad Genetics, Inc. will post -0.34 earnings per share for the current fiscal year.

Myriad Genetics 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.