Ingalls & Snyder LLC Trims Stake in Myriad Genetics, Inc. (MYGN)

Ingalls & Snyder LLC reduced its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 49,099 shares of the company’s stock after selling 4,500 shares during the quarter. Ingalls & Snyder LLC’s holdings in Myriad Genetics were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Myriad Genetics during the 2nd quarter valued at approximately $101,000. Riverhead Capital Management LLC grew its position in shares of Myriad Genetics by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,161 shares of the company’s stock valued at $107,000 after acquiring an additional 1,861 shares during the period. Meeder Asset Management Inc. grew its position in shares of Myriad Genetics by 1,067.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $119,000 after acquiring an additional 3,010 shares during the period. Tiedemann Wealth Management LLC grew its position in shares of Myriad Genetics by 67.0% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 13,650 shares of the company’s stock valued at $185,000 after acquiring an additional 5,475 shares during the period. Finally, Commonwealth Equity Services Inc bought a new position in shares of Myriad Genetics during the 3rd quarter valued at approximately $202,000.

MYGN has been the subject of a number of research reports. BTIG Research initiated coverage on shares of Myriad Genetics in a research report on Friday, January 5th. They set a “buy” rating and a $41.00 target price for the company. Morgan Stanley reissued an “underweight” rating and set a $24.00 target price (up from $17.00) on shares of Myriad Genetics in a research report on Friday, October 6th. Barclays reissued a “hold” rating and set a $30.00 target price on shares of Myriad Genetics in a research report on Monday, January 8th. Zacks Investment Research raised shares of Myriad Genetics from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Tuesday, October 17th. Finally, ValuEngine raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $30.09.

In related news, insider Alexander Ford sold 3,031 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $31.64, for a total value of $95,900.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard M. Marsh sold 13,759 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $36.25, for a total transaction of $498,763.75. Following the completion of the transaction, the vice president now directly owns 136,385 shares of the company’s stock, valued at $4,943,956.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,410 shares of company stock valued at $1,163,524. 6.70% of the stock is owned by insiders.

Myriad Genetics, Inc. (NASDAQ:MYGN) opened at $38.62 on Friday. The company has a market cap of $2,720.00, a P/E ratio of 26.09, a P/E/G ratio of 2.41 and a beta of 0.24. Myriad Genetics, Inc. has a fifty-two week low of $15.15 and a fifty-two week high of $38.65. The company has a quick ratio of 2.06, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The company had revenue of $190.20 million during the quarter, compared to the consensus estimate of $183.52 million. Myriad Genetics had a net margin of 13.28% and a return on equity of 9.54%. Myriad Genetics’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. analysts predict that Myriad Genetics, Inc. will post 1.05 earnings per share for the current year.

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About Myriad Genetics

Myriad Genetics, Inc is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence.

Want to see what other hedge funds are holding MYGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Myriad Genetics, Inc. (NASDAQ:MYGN).

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

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