BlackRock Inc. Acquires 9,536,219 Shares of Myriad Genetics, Inc. (MYGN)
BlackRock Inc. raised its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 168,335.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,541,884 shares of the company’s stock after buying an additional 9,536,219 shares during the period. BlackRock Inc. owned 0.14% of Myriad Genetics worth $183,203,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Myriad Genetics during the fourth quarter valued at $14,319,000. Dimensional Fund Advisors LP boosted its position in shares of Myriad Genetics by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,654,854 shares of the company’s stock valued at $27,587,000 after buying an additional 204,049 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of Myriad Genetics during the first quarter valued at $682,000. Comerica Bank boosted its position in shares of Myriad Genetics by 4.8% in the fourth quarter. Comerica Bank now owns 51,750 shares of the company’s stock valued at $845,000 after buying an additional 2,348 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Myriad Genetics by 131.2% in the first quarter. Bank of New York Mellon Corp now owns 918,305 shares of the company’s stock valued at $17,632,000 after buying an additional 521,146 shares during the last quarter.
Myriad Genetics, Inc. (MYGN) opened at 24.32 on Friday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 51.97 and a beta of 0.32. The company has a 50-day moving average of $24.27 and a 200-day moving average of $20.02. Myriad Genetics, Inc. has a 1-year low of $15.15 and a 1-year high of $32.54.
Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, May 2nd. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Myriad Genetics had a net margin of 4.26% and a return on equity of 10.53%. The business had revenue of $196.90 million during the quarter, compared to analysts’ expectations of $188.89 million. Analysts anticipate that Myriad Genetics, Inc. will post $1.01 earnings per share for the current fiscal year.
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Several equities research analysts have commented on MYGN shares. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 price objective on shares of Myriad Genetics in a research note on Friday, March 24th. Deutsche Bank AG increased their price objective on shares of Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a research note on Monday, May 8th. Cowen and Company reiterated a “market perform” rating and issued a $19.00 price objective on shares of Myriad Genetics in a research note on Tuesday, March 28th. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $16.00 price objective on shares of Myriad Genetics in a research note on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Monday. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $22.00.
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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