Myriad Genetics, Inc. (MYGN) Shares Sold by CIBC World Markets Inc.

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CIBC World Markets Inc. trimmed its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 25.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,364 shares of the company’s stock after selling 2,852 shares during the quarter. CIBC World Markets Inc.’s holdings in Myriad Genetics were worth $385,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Robecosam AG increased its position in Myriad Genetics by 39.8% during the 2nd quarter. Robecosam AG now owns 4,193 shares of the company’s stock worth $156,000 after purchasing an additional 1,193 shares in the last quarter. First Quadrant L P CA acquired a new position in Myriad Genetics during the 3rd quarter worth approximately $201,000. Parametrica Management Ltd acquired a new position in Myriad Genetics during the 3rd quarter worth approximately $204,000. Royal Bank of Canada increased its position in Myriad Genetics by 59.5% during the 1st quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock worth $136,000 after purchasing an additional 1,715 shares in the last quarter. Finally, CHICAGO TRUST Co NA acquired a new position in Myriad Genetics during the 3rd quarter worth approximately $230,000. Institutional investors and hedge funds own 99.80% of the company’s stock.

Shares of NASDAQ MYGN opened at $31.51 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.17 and a debt-to-equity ratio of 0.23. Myriad Genetics, Inc. has a 52-week low of $27.27 and a 52-week high of $50.44. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.36.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.13. Myriad Genetics had a net margin of 7.07% and a return on equity of 10.07%. The firm had revenue of $202.30 million during the quarter, compared to analysts’ expectations of $203.20 million. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, research analysts expect that Myriad Genetics, Inc. will post 1.5 earnings per share for the current year.

A number of equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Myriad Genetics from $31.00 to $34.00 and gave the stock a “sell” rating in a research report on Wednesday, August 22nd. Zacks Investment Research cut shares of Myriad Genetics from a “buy” rating to a “sell” rating in a research report on Monday, August 27th. Barclays lowered their price objective on shares of Myriad Genetics from $30.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday, September 11th. Piper Jaffray Companies upped their price objective on shares of Myriad Genetics to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 22nd. Finally, Stephens upped their price target on shares of Myriad Genetics from $45.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, August 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $41.90.

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About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

Read More: Cost of Capital Explained

Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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