Susquehanna Fundamental Investments LLC Invests $2.32 Million in Myriad Genetics, Inc. (NASDAQ:MYGN)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 94,624 shares of the company’s stock, valued at approximately $2,315,000. Susquehanna Fundamental Investments LLC owned approximately 0.10% of Myriad Genetics as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MYGN. Sei Investments Co. lifted its position in Myriad Genetics by 41.9% in the 4th quarter. Sei Investments Co. now owns 2,161,434 shares of the company’s stock worth $41,370,000 after buying an additional 638,147 shares during the last quarter. Glenview Capital Management LLC boosted its stake in shares of 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 bought a new position in shares of Myriad Genetics during the 4th quarter valued at $428,000. Wellington Management Group LLP raised its position in Myriad Genetics by 20.4% in 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. Finally, Fisher Asset Management LLC lifted its stake in Myriad Genetics by 10.7% in the fourth quarter. Fisher Asset Management LLC now owns 157,969 shares of the company’s stock worth $3,024,000 after purchasing an additional 15,313 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MYGN shares. Scotiabank raised their price objective on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. TD Cowen increased their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $20.00 price target (down previously from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.91.

Insider Activity

In related 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 directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction that occurred on 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 owns 42,533 shares in the company, valued at approximately $1,188,797.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction 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 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. Company insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Performance

Shares of MYGN opened at $27.39 on Tuesday. The company has a 50-day simple moving average of $27.46 and a two-hundred day simple moving average of $24.32. 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 firm has a market capitalization of $2.48 billion, a PE ratio of -9.71 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 released its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company 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 revenue for the quarter 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 anticipate that Myriad Genetics, Inc. will post -0.35 EPS 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.