Pinnacle Associates Ltd. Has $24.44 Million Holdings in Myriad Genetics, Inc. (MYGN)

Pinnacle Associates Ltd. cut its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 8.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 711,487 shares of the company’s stock after selling 67,794 shares during the period. Pinnacle Associates Ltd. owned 1.02% of Myriad Genetics worth $24,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MYGN. Wells Fargo & Company MN raised its holdings in Myriad Genetics by 98.2% in the 3rd quarter. Wells Fargo & Company MN now owns 844,339 shares of the company’s stock valued at $30,548,000 after acquiring an additional 418,335 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Myriad Genetics by 18.4% in the 4th quarter. Acadian Asset Management LLC now owns 2,205,297 shares of the company’s stock valued at $75,743,000 after acquiring an additional 343,196 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Myriad Genetics in the 3rd quarter valued at $9,083,000. Robeco Institutional Asset Management B.V. acquired a new position in Myriad Genetics in the 4th quarter valued at $5,979,000. Finally, BlackRock Inc. raised its holdings in Myriad Genetics by 1.5% in the 4th quarter. BlackRock Inc. now owns 10,066,753 shares of the company’s stock valued at $345,743,000 after acquiring an additional 150,003 shares during the last quarter.

Shares of Myriad Genetics, Inc. (MYGN) opened at $33.31 on Thursday. The company has a market capitalization of $2,273.63, a price-to-earnings ratio of 28.55, a PEG ratio of 2.30 and a beta of 0.32. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a twelve month low of $17.50 and a twelve month high of $41.57.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $194.00 million during the quarter, compared to the consensus estimate of $188.72 million. Myriad Genetics had a return on equity of 9.59% and a net margin of 16.67%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. research analysts predict that Myriad Genetics, Inc. will post 1.15 earnings per share for the current year.

In related news, VP Richard M. Marsh sold 13,759 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $36.25, for a total transaction of $498,763.75. Following the completion of the sale, the vice president now directly owns 136,385 shares of the company’s stock, valued at approximately $4,943,956.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gary A. King sold 3,120 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $38.12, for a total transaction of $118,934.40. Following the sale, the vice president now directly owns 125,088 shares of the company’s stock, valued at $4,768,354.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,033 shares of company stock valued at $2,583,197. 6.70% of the stock is owned by corporate insiders.

Several brokerages have weighed in on MYGN. Goldman Sachs Group began coverage on Myriad Genetics in a report on Monday, January 29th. They issued a “sell” rating and a $32.00 price target for the company. Barclays boosted their price target on Myriad Genetics from $30.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, January 22nd. BidaskClub upgraded Myriad Genetics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th. BTIG Research set a $41.00 price target on Myriad Genetics and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Stephens set a $45.00 price objective on Myriad Genetics and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Myriad Genetics currently has an average rating of “Hold” and a consensus target price of $31.42.

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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.

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

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