Beverly Hills Private Wealth LLC Raises Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Beverly Hills Private Wealth LLC raised its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 104.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,335 shares of the company’s stock after buying an additional 20,099 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Myriad Genetics were worth $760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Glenview Capital Management LLC increased its position in Myriad Genetics by 35.4% during the first quarter. Glenview Capital Management LLC now owns 4,195,112 shares of the company’s stock valued at $97,452,000 after acquiring an additional 1,097,344 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Myriad Genetics by 29.6% during the 1st quarter. Bank of America Corp DE now owns 3,432,969 shares of the company’s stock valued at $79,748,000 after purchasing an additional 783,718 shares during the period. Wellington Management Group LLP increased its position in shares of Myriad Genetics by 17.8% during the 1st quarter. Wellington Management Group LLP now owns 5,096,235 shares of the company’s stock valued at $128,425,000 after purchasing an additional 770,460 shares during the last quarter. State Street Corp lifted its stake in shares of Myriad Genetics by 14.5% in the 2nd quarter. State Street Corp now owns 4,804,157 shares of the company’s stock worth $87,292,000 after purchasing an additional 607,932 shares during the period. Finally, Pictet Asset Management SA boosted its holdings in shares of Myriad Genetics by 190.6% in the first quarter. Pictet Asset Management SA now owns 873,338 shares of the company’s stock worth $20,288,000 after buying an additional 572,778 shares during the last quarter. 99.02% of the stock is owned by institutional investors.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, CFO Richard Bryan Riggsbee sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $15.69, for a total value of $470,700.00. Following the completion of the transaction, the chief financial officer now directly owns 321,812 shares in the company, valued at approximately $5,049,230.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MYGN. JPMorgan Chase & Co. decreased their price target on shares of Myriad Genetics from $17.00 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 7th. StockNews.com raised Myriad Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, The Goldman Sachs Group raised their price objective on Myriad Genetics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Myriad Genetics has a consensus rating of “Hold” and a consensus target price of $23.25.

Myriad Genetics Stock Up 3.6 %

Shares of MYGN stock opened at $17.42 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.27 and a quick ratio of 1.15. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $24.21. The company’s fifty day moving average price is $15.91 and its 200-day moving average price is $19.07. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -5.18 and a beta of 1.83.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Myriad Genetics had a negative return on equity of 9.04% and a negative net margin of 37.36%. The business had revenue of $191.90 million during the quarter, compared to analyst estimates of $179.23 million. During the same quarter in the prior year, the business posted ($0.27) EPS. Myriad Genetics’s revenue for the quarter was up 22.7% compared to the same quarter last year. Sell-side analysts expect that Myriad Genetics, Inc. will post -0.63 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 mental health applications. 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, or 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.