Principal Financial Group Inc. Trims Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Principal Financial Group Inc. lessened its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 428,023 shares of the company’s stock after selling 21,583 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Myriad Genetics worth $11,724,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MYGN. Hexagon Capital Partners LLC boosted its holdings in Myriad Genetics by 75.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after acquiring an additional 491 shares during the period. Innealta Capital LLC purchased a new position in shares of Myriad Genetics in the second quarter valued at approximately $36,000. GAMMA Investing LLC grew its holdings in shares of Myriad Genetics by 34.1% in the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock valued at $44,000 after purchasing an additional 412 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Myriad Genetics during the 2nd quarter worth approximately $60,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Myriad Genetics during the 2nd quarter worth approximately $82,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen increased their price target on 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 began coverage on Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 price objective for the company. Wells Fargo & Company began coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Scotiabank lifted their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.36.

Insider Buying and Selling

In related news, CEO Paul J. Diaz sold 15,000 shares of the firm’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 transaction of $343,950.00. Following the transaction, the chief executive officer now owns 962,378 shares in the company, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred 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 transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. This trade represents a 51.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,012 shares of company stock worth $1,900,485 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Myriad Genetics Stock Down 2.7 %

Shares of NASDAQ:MYGN opened at $15.25 on Monday. The firm has a 50 day simple moving average of $23.43 and a 200-day simple moving average of $24.67. Myriad Genetics, Inc. has a twelve month low of $15.18 and a twelve month high of $29.30. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.39 billion, a PE ratio of -11.73 and a beta of 1.93.

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.