Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 26.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,259 shares of the company’s stock after acquiring an additional 2,365 shares during the period. Blue Trust Inc.’s holdings in Myriad Genetics were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MYGN. Hexagon Capital Partners LLC grew its stake 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 valued at $28,000 after purchasing an additional 491 shares during the last quarter. Amalgamated Bank grew its position in Myriad Genetics by 2.2% in the 4th quarter. Amalgamated Bank now owns 32,359 shares of the company’s stock valued at $619,000 after buying an additional 692 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Myriad Genetics by 9.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock valued at $186,000 after buying an additional 720 shares during the period. Texas Permanent School Fund Corp increased its stake in Myriad Genetics by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after buying an additional 889 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in Myriad Genetics by 8.1% during the 4th quarter. Mutual of America Capital Management LLC now owns 15,519 shares of the company’s stock worth $297,000 after buying an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Daniel K. Spiegelman sold 3,788 shares of Myriad Genetics stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $22.04, for a total transaction of $83,487.52. Following the completion of the transaction, the director now owns 36,705 shares in the company, valued at $808,978.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Leerink Partnrs raised shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 8th. Piper Sandler lifted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. 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. Scotiabank raised their price target on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. Finally, SVB Leerink raised Myriad Genetics from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $25.00 to $35.00 in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Myriad Genetics currently has a consensus rating of “Hold” and a consensus target price of $27.10.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $28.18 on Friday. The business has a 50 day moving average price of $25.86 and a 200 day moving average price of $23.21. The company has a market capitalization of $2.55 billion, a P/E ratio of -9.99 and a beta of 1.95. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $28.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.99 and a quick ratio of 1.82.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. Myriad Genetics’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Sell-side analysts expect that Myriad Genetics, Inc. will post -0.36 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.