Intech Investment Management LLC Purchases 193,215 Shares of Myriad Genetics, Inc. $MYGN

Intech Investment Management LLC raised its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 543.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,779 shares of the company’s stock after acquiring an additional 193,215 shares during the period. Intech Investment Management LLC owned approximately 0.25% of Myriad Genetics worth $1,407,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock valued at $25,000 after acquiring an additional 4,480 shares during the period. Hantz Financial Services Inc. boosted its holdings in Myriad Genetics by 1,088.7% during the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock valued at $30,000 after acquiring an additional 3,745 shares during the period. Raymond James Financial Inc. bought a new stake in Myriad Genetics during the second quarter valued at about $37,000. American Century Companies Inc. bought a new stake in Myriad Genetics during the second quarter valued at about $55,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Myriad Genetics by 283.0% during the second quarter. Tower Research Capital LLC TRC now owns 10,582 shares of the company’s stock valued at $56,000 after acquiring an additional 7,819 shares during the period. 99.02% of the stock is currently owned by institutional investors.

Insider Activity

In other Myriad Genetics news, Director Paul Bisaro purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $3.69 per share, with a total value of $27,675.00. Following the completion of the transaction, the director directly owned 97,441 shares of the company’s stock, valued at approximately $359,557.29. This trade represents a 8.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Samraat S. Raha purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $5.00 per share, with a total value of $200,000.00. Following the transaction, the chief executive officer directly owned 493,104 shares of the company’s stock, valued at approximately $2,465,520. This represents a 8.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Myriad Genetics Stock Down 2.6%

Shares of MYGN opened at $4.57 on Friday. The company has a 50-day simple moving average of $4.42 and a 200-day simple moving average of $5.37. The firm has a market capitalization of $431.64 million, a P/E ratio of -1.06 and a beta of 1.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.19 and a current ratio of 2.40. Myriad Genetics, Inc. has a 52 week low of $3.53 and a 52 week high of $8.59.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Myriad Genetics had a negative return on equity of 8.51% and a negative net margin of 48.24%.The business had revenue of $200.40 million during the quarter, compared to analyst estimates of $202.42 million. During the same period last year, the company earned ($0.03) EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Myriad Genetics, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MYGN. TD Cowen decreased their price target on shares of Myriad Genetics from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Wells Fargo & Company cut their price objective on shares of Myriad Genetics from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Myriad Genetics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. UBS Group cut their price objective on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. Finally, Zacks Research raised shares of Myriad Genetics from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.