Mirae Asset Global Investments Co. Ltd. Purchases 583 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Mirae Asset Global Investments Co. Ltd. increased its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 21.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,285 shares of the company’s stock after buying an additional 583 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Myriad Genetics were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in shares of Myriad Genetics by 90.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company’s stock valued at $188,000 after buying an additional 4,193 shares during the last quarter. Nordea Investment Management AB raised its stake in Myriad Genetics by 5.6% during the first quarter. Nordea Investment Management AB now owns 128,903 shares of the company’s stock worth $2,769,000 after buying an additional 6,807 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Myriad Genetics by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after acquiring an additional 889 shares during the last quarter. AMH Equity Ltd acquired a new stake in Myriad Genetics during the 1st quarter worth about $2,345,000. Finally, Swiss National Bank lifted its stake in shares of Myriad Genetics by 8.2% in the 1st quarter. Swiss National Bank now owns 174,700 shares of the company’s stock valued at $3,725,000 after purchasing an additional 13,300 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares in the company, valued at $22,067,327.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,012 shares of company stock valued at $1,900,485. Corporate insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $17.83 on Tuesday. Myriad Genetics, Inc. has a 1-year low of $15.99 and a 1-year high of $29.30. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $25.57 and a 200-day moving average of $24.81. The firm has a market cap of $1.62 billion, a P/E ratio of -9.85 and a beta of 1.93.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Scotiabank upped their target price on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. TD Cowen lifted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley started coverage on shares of Myriad Genetics in a report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.91.

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.