Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Paul J. Diaz Sells 15,000 Shares of Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction 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 directly owns 962,378 shares in the company, valued at approximately $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Myriad Genetics Price Performance

NASDAQ:MYGN opened at $24.08 on Friday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -8.54 and a beta of 1.91. 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 company’s 50-day moving average is $27.09 and its two-hundred day moving average is $24.52. Myriad Genetics, Inc. has a 12-month low of $13.82 and a 12-month high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results 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. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Research analysts expect that Myriad Genetics, Inc. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MYGN. JPMorgan Chase & Co. upped their price target on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Scotiabank increased their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 price objective on the stock. Piper Sandler increased their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Morgan Stanley assumed coverage on shares of Myriad Genetics in a research note on Thursday, September 19th. They issued an “equal weight” rating and a $32.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued 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 price target of $28.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenview Capital Management LLC lifted its holdings in shares of Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after acquiring an additional 1,500,000 shares during the period. Virtu Financial LLC purchased a new position in shares of Myriad Genetics during the 4th quarter worth about $428,000. Wellington Management Group LLP lifted its holdings in shares of Myriad Genetics by 20.4% during the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after acquiring an additional 1,223,446 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Myriad Genetics by 10.7% during the 4th quarter. Fisher Asset Management LLC now owns 157,969 shares of the company’s stock worth $3,024,000 after acquiring an additional 15,313 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Myriad Genetics by 8.6% during the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after acquiring an additional 789,496 shares during the period. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Company 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.