Piermont Capital Management Inc. Boosts Position in Myriad Genetics, Inc. (MYGN)
Piermont Capital Management Inc. increased its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 28.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,660 shares of the company’s stock after buying an additional 9,410 shares during the period. Piermont Capital Management Inc. owned about 0.06% of Myriad Genetics worth $878,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Myriad Genetics by 55.0% in the second quarter. US Bancorp DE now owns 4,122 shares of the company’s stock worth $126,000 after buying an additional 1,462 shares during the last quarter. JPMorgan Chase & Co. increased its position in Myriad Genetics by 224.4% in the third quarter. JPMorgan Chase & Co. now owns 6,656 shares of the company’s stock worth $137,000 after buying an additional 4,604 shares during the last quarter. Adams Diversified Equity Fund Inc. bought a new position in Myriad Genetics during the second quarter worth about $187,000. Acrospire Investment Management LLC increased its position in Myriad Genetics by 96.2% in the third quarter. Acrospire Investment Management LLC now owns 10,400 shares of the company’s stock worth $214,000 after buying an additional 5,100 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Myriad Genetics by 1.1% in the third quarter. Principal Financial Group Inc. now owns 12,013 shares of the company’s stock worth $247,000 after buying an additional 133 shares during the last quarter.
Myriad Genetics, Inc. (NASDAQ:MYGN) traded down 0.24% during trading on Friday, reaching $16.33. 1,253,768 shares of the company traded hands. The company’s 50-day moving average price is $17.31 and its 200 day moving average price is $22.12. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.63 and a beta of 0.34. Myriad Genetics, Inc. has a 52 week low of $15.86 and a 52 week high of $43.68.
Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.02. The firm earned $177.50 million during the quarter, compared to analyst estimates of $172.31 million. Myriad Genetics had a net margin of 11.38% and a return on equity of 13.98%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Myriad Genetics, Inc. will post $0.98 EPS for the current year.
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MYGN has been the topic of a number of research reports. Barclays PLC reiterated an “equal weight” rating and set a $22.00 target price (down previously from $24.00) on shares of Myriad Genetics in a research report on Monday, October 10th. Stephens downgraded shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 2nd. Piper Jaffray Companies set a $21.00 target price on shares of Myriad Genetics and gave the company a “hold” rating in a research report on Sunday, December 25th. TheStreet downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Finally, Zacks Investment Research downgraded shares of Myriad Genetics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.29.
Myriad Genetics Company Profile
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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