Canada Pension Plan Investment Board lowered its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 52.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 370,700 shares of the company’s stock after selling 412,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.54% of Myriad Genetics worth $9,579,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock valued at $183,203,000 after buying an additional 9,536,219 shares in the last quarter. Vanguard Group Inc. boosted its position in Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock valued at $120,020,000 after buying an additional 897,287 shares in the last quarter. Camber Capital Management LLC boosted its position in Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock valued at $83,040,000 after buying an additional 265,000 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock valued at $59,058,000 after buying an additional 41,432 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Myriad Genetics by 59.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock valued at $50,742,000 after buying an additional 987,966 shares in the last quarter.
Shares of Myriad Genetics, Inc. (NASDAQ MYGN) opened at 28.80 on Friday. Myriad Genetics, Inc. has a 1-year low of $15.15 and a 1-year high of $29.01. The firm’s 50-day moving average price is $25.48 and its 200 day moving average price is $21.36. The stock has a market capitalization of $1.97 billion, a P/E ratio of 90.28 and a beta of 0.31.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $193.71 million. Myriad Genetics had a return on equity of 9.67% and a net margin of 2.83%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Analysts expect that Myriad Genetics, Inc. will post $1.02 EPS for the current fiscal year.
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Several research firms have recently weighed in on MYGN. BidaskClub raised Myriad Genetics from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Barclays PLC reduced their target price on Myriad Genetics from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, August 9th. Jefferies Group LLC reissued a “hold” rating and issued a $21.00 target price (up from $18.00) on shares of Myriad Genetics in a report on Wednesday, May 3rd. Cowen and Company reissued a “hold” rating and issued a $25.00 target price on shares of Myriad Genetics in a report on Friday, July 14th. Finally, Deutsche Bank AG boosted their target price on Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $21.22.
About Myriad Genetics
Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.
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