Heinrich Dreismann Sells 6,000 Shares of Myriad Genetics, Inc. (MYGN) Stock
Myriad Genetics, Inc. (NASDAQ:MYGN) Director Heinrich Dreismann sold 6,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $33.50, for a total transaction of $201,000.00. Following the sale, the director now owns 33,743 shares of the company’s stock, valued at approximately $1,130,390.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) opened at $33.27 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.06. Myriad Genetics, Inc. has a 1 year low of $15.15 and a 1 year high of $37.30. The company has a market cap of $2,255.86, a price-to-earnings ratio of 29.89, a P/E/G ratio of 2.07 and a beta of 0.25.
Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. The business had revenue of $190.20 million during the quarter, compared to analysts’ expectations of $183.52 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. research analysts expect that Myriad Genetics, Inc. will post 1.05 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MYGN. Thrivent Financial For Lutherans increased its position in shares of Myriad Genetics by 7,026.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,742,340 shares of the company’s stock valued at $70,862,000 after buying an additional 2,703,860 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Myriad Genetics by 29.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,430,216 shares of the company’s stock valued at $88,636,000 after buying an additional 787,396 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Myriad Genetics by 98.2% in the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after buying an additional 418,335 shares in the last quarter. PDT Partners LLC bought a new stake in shares of Myriad Genetics in the 2nd quarter valued at $8,481,000. Finally, Northern Trust Corp increased its position in shares of Myriad Genetics by 31.1% in the 2nd quarter. Northern Trust Corp now owns 1,292,588 shares of the company’s stock valued at $33,400,000 after buying an additional 306,276 shares in the last quarter.
Several analysts have commented on MYGN shares. ValuEngine upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Deutsche Bank upped their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Cowen reiterated a “hold” rating and set a $25.00 target price on shares of Myriad Genetics in a research report on Sunday, September 17th. Leerink Swann reiterated a “market perform” rating and set a $31.00 target price on shares of Myriad Genetics in a research report on Monday, October 2nd. Finally, Stephens reiterated an “overweight” rating and set a $40.00 target price (up previously from $36.00) on shares of Myriad Genetics in a research report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.10.
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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