Myriad Genetics, Inc. (MYGN) Stake Lowered by State Street Corp
State Street Corp lowered its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 11.5% during the first quarter, Holdings Channel reports. The institutional investor owned 3,176,426 shares of the company’s stock after selling 412,653 shares during the period. State Street Corp’s holdings in Myriad Genetics were worth $60,988,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Myriad Genetics during the first quarter worth $112,000. Creative Planning raised its position in shares of Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock valued at $122,000 after buying an additional 671 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Myriad Genetics during the first quarter valued at $144,000. Karp Capital Management Corp purchased a new position in shares of Myriad Genetics during the first quarter valued at $223,000. Finally, Opus Point Partners Management LLC purchased a new position in shares of Myriad Genetics during the fourth quarter valued at $232,000.
Myriad Genetics, Inc. (MYGN) opened at 24.16 on Friday. Myriad Genetics, Inc. has a 52-week low of $15.15 and a 52-week high of $32.54. The firm has a 50-day moving average price of $24.27 and a 200 day moving average price of $20.02. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 51.62 and a beta of 0.32.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $188.89 million. On average, equities research analysts predict that Myriad Genetics, Inc. will post $1.01 EPS for the current year.
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Several research analysts recently weighed in on MYGN shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.00 target price on shares of Myriad Genetics in a research report on Friday, March 24th. Cowen and Company reaffirmed a “market perform” rating and issued a $19.00 target price on shares of Myriad Genetics in a research report on Tuesday, March 28th. Deutsche Bank AG increased their target price on Myriad Genetics from $15.00 to $20.00 and gave the stock a “sell” rating in a research report on Monday, May 8th. BidaskClub raised Myriad Genetics from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $16.00 target price on shares of Myriad Genetics in a research report on Friday, June 30th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the 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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