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.
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.
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