State Farm Mutual Automobile Insurance Co. held its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 404,728 shares of the company’s stock at the end of the second quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.59% of Myriad Genetics worth $10,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. grew its holdings in Myriad Genetics by 168,335.7% in the first quarter. BlackRock Inc. now owns 9,541,884 shares of the company’s stock worth $183,203,000 after purchasing an additional 9,536,219 shares during the last quarter. Vanguard Group Inc. grew its holdings in Myriad Genetics by 16.8% in the first quarter. Vanguard Group Inc. now owns 6,251,030 shares of the company’s stock worth $120,020,000 after purchasing an additional 897,287 shares during the last quarter. Camber Capital Management LLC grew its holdings in Myriad Genetics by 6.5% in the first quarter. Camber Capital Management LLC now owns 4,325,000 shares of the company’s stock worth $83,040,000 after purchasing an additional 265,000 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in Myriad Genetics by 1.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,075,954 shares of the company’s stock worth $59,058,000 after purchasing an additional 41,432 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Myriad Genetics by 59.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,642,820 shares of the company’s stock worth $50,742,000 after purchasing an additional 987,966 shares during the last quarter.
Several equities analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and issued a $40.00 price target (up from $36.00) on shares of Myriad Genetics in a report on Friday. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 price target on shares of Myriad Genetics in a report on Sunday, September 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $23.00 price target (up from $21.00) on shares of Myriad Genetics in a report on Thursday, August 10th. Deutsche Bank AG raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and cut their price target for the stock from $27.86 to $15.00 in a report on Friday, August 18th. Finally, BidaskClub raised shares of Myriad Genetics from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.44.
In related news, Director John T. Henderson sold 30,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $30.30, for a total value of $909,000.00. Following the transaction, the director now directly owns 52,524 shares of the company’s stock, valued at approximately $1,591,477.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.20% of the company’s stock.
Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) opened at 33.79 on Friday. Myriad Genetics, Inc. has a one year low of $15.15 and a one year high of $33.90. The stock’s 50 day moving average is $29.26 and its 200-day moving average is $23.47. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 105.92 and a beta of 0.26.
Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, August 8th. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The firm had revenue of $200.50 million for the quarter, compared to the consensus estimate of $193.71 million. Myriad Genetics had a net margin of 2.83% and a return on equity of 9.67%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. On average, equities research analysts predict that Myriad Genetics, Inc. will post $1.02 EPS for the current fiscal year.
Myriad Genetics Company Profile
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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