Myriad Genetics, Inc. (NASDAQ:MYGN) Position Increased by Sei Investments Co.

Sei Investments Co. increased its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,417,192 shares of the company’s stock after purchasing an additional 124,007 shares during the period. Sei Investments Co. owned 2.67% of Myriad Genetics worth $59,125,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Myriad Genetics by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,035,708 shares of the company’s stock worth $213,961,000 after purchasing an additional 81,475 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after purchasing an additional 1,223,446 shares during the last quarter. Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 39.6% in the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after purchasing an additional 1,500,000 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Myriad Genetics by 0.5% in the 1st quarter. Earnest Partners LLC now owns 3,933,058 shares of the company’s stock worth $83,853,000 after purchasing an additional 19,145 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Myriad Genetics by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,776,959 shares of the company’s stock valued at $67,924,000 after acquiring an additional 75,445 shares during the period. Institutional investors own 99.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on Myriad Genetics in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price on the stock. Morgan Stanley assumed coverage on Myriad Genetics in a research report on Thursday. They issued an “equal weight” rating and a $32.00 target price on the stock. TD Cowen raised their target price on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Scotiabank raised their target price on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.91.

Myriad Genetics Stock Down 2.3 %

Shares of MYGN stock opened at $27.64 on Monday. Myriad Genetics, Inc. has a 1 year low of $13.82 and a 1 year high of $29.30. The stock has a market cap of $2.50 billion, a PE ratio of -9.80 and a beta of 1.92. The business’s fifty day moving average is $27.49 and its 200-day moving average is $24.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. Equities analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now owns 42,533 shares in the company, valued at $1,188,797.35. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

About Myriad Genetics

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.