American Century Companies Inc. Boosts Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

American Century Companies Inc. raised its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,805 shares of the company’s stock after purchasing an additional 3,868 shares during the period. American Century Companies Inc. owned about 0.06% of Myriad Genetics worth $1,243,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its stake in shares of Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after buying an additional 491 shares during the period. Innealta Capital LLC acquired a new position in Myriad Genetics in the 2nd quarter valued at $36,000. Neo Ivy Capital Management purchased a new position in shares of Myriad Genetics during the 2nd quarter worth $85,000. Quest Partners LLC boosted its holdings in shares of Myriad Genetics by 10,724.5% during the second quarter. Quest Partners LLC now owns 5,304 shares of the company’s stock worth $130,000 after purchasing an additional 5,255 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Myriad Genetics in the second quarter valued at $162,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,188,797.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction that occurred 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 sale, the director now owns 121,648 shares in the company, valued at $3,290,578.40. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $27.39 on Tuesday. The firm’s fifty day simple moving average is $27.46 and its 200 day simple moving average is $24.32. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a twelve month low of $13.82 and a twelve month high of $29.30. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -9.71 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The company had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $206.44 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Piper Sandler increased their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Jefferies Financial Group restated an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. TD Cowen increased their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley began coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Myriad Genetics has a consensus rating of “Hold” and an average target price of $28.91.

Myriad Genetics Profile

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.