Intech Investment Management LLC Makes New $538,000 Investment in Myriad Genetics, Inc. (NASDAQ:MYGN)

Intech Investment Management LLC bought a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,012 shares of the company’s stock, valued at approximately $538,000.

Several other large investors have also modified their holdings of the stock. Pura Vida Investments LLC acquired a new position in Myriad Genetics in the 4th quarter valued at $957,000. Sei Investments Co. lifted its position in 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 period. Glenview Capital Management LLC boosted its holdings in Myriad Genetics by 39.6% in the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after purchasing an additional 1,500,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in Myriad Genetics in the 4th quarter valued at approximately $428,000. Finally, Wellington Management Group LLP increased its position 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 worth $138,185,000 after purchasing an additional 1,223,446 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $26.23 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96. The business’s fifty day moving average price is $27.45 and its two-hundred day moving average price is $24.22. The stock has a market cap of $2.37 billion, a PE ratio of -9.30 and a beta of 1.92. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. On average, analysts forecast that Myriad Genetics, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at Myriad Genetics

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

Analysts Set New Price Targets

Several research firms have recently commented on MYGN. JPMorgan Chase & Co. raised their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. Morgan Stanley initiated coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price target for the company. Piper Sandler boosted their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Scotiabank increased their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.91.

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.