Point72 Asset Management L.P. boosted its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 57.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 982,601 shares of the company’s stock after purchasing an additional 359,488 shares during the quarter. Point72 Asset Management L.P. owned about 1.34% of Myriad Genetics worth $27,297,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Neuburgh Advisers LLC grew its holdings in Myriad Genetics by 4.5% in the second quarter. Neuburgh Advisers LLC now owns 7,040 shares of the company’s stock worth $196,000 after purchasing an additional 304 shares during the period. New York State Teachers Retirement System grew its holdings in Myriad Genetics by 0.6% in the first quarter. New York State Teachers Retirement System now owns 50,798 shares of the company’s stock worth $1,686,000 after purchasing an additional 307 shares during the period. Mason Street Advisors LLC grew its holdings in Myriad Genetics by 1.4% in the first quarter. Mason Street Advisors LLC now owns 23,532 shares of the company’s stock worth $781,000 after purchasing an additional 315 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Myriad Genetics by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 21,920 shares of the company’s stock worth $609,000 after purchasing an additional 380 shares during the period. Finally, Riverhead Capital Management LLC grew its holdings in Myriad Genetics by 5.3% in the second quarter. Riverhead Capital Management LLC now owns 7,898 shares of the company’s stock worth $219,000 after purchasing an additional 400 shares during the period.

Shares of Myriad Genetics stock traded down $0.67 during trading hours on Friday, reaching $27.30. The company’s stock had a trading volume of 1,534,695 shares, compared to its average volume of 876,405. Myriad Genetics, Inc. has a one year low of $22.04 and a one year high of $48.77. The company has a market capitalization of $2.05 billion, a P/E ratio of 21.55, a P/E/G ratio of 1.44 and a beta of 0.88. The stock’s fifty day simple moving average is $30.28 and its two-hundred day simple moving average is $29.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.69 and a current ratio of 2.96.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Myriad Genetics had a net margin of 0.54% and a return on equity of 9.09%. The firm had revenue of $215.40 million for the quarter, compared to analyst estimates of $221.64 million. During the same period last year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Myriad Genetics, Inc. will post 1.52 earnings per share for the current year.

In related news, CFO Richard Bryan Riggsbee sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $41.50, for a total transaction of $1,037,500.00. Following the transaction, the chief financial officer now directly owns 120,566 shares of the company’s stock, valued at $5,003,489. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gary A. King sold 60,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $43.49, for a total transaction of $2,609,400.00. Following the transaction, the vice president now directly owns 164,871 shares in the company, valued at $7,170,239.79. The disclosure for this sale can be found here. Insiders sold 96,712 shares of company stock worth $4,115,380 over the last ninety days. Insiders own 5.80% of the company’s stock.

A number of equities research analysts have commented on the stock. Cowen cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and set a $26.64 price target for the company. in a report on Tuesday, July 9th. Deutsche Bank reduced their price target on shares of Myriad Genetics from $45.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Zacks Investment Research raised shares of Myriad Genetics from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research note on Monday, July 1st. Barclays set a $22.00 price objective on shares of Myriad Genetics and gave the company a “sell” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Myriad Genetics in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $34.05.

About Myriad Genetics

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including myRisk Hereditary Cancer, a DNA sequencing test for hereditary cancers; BRACAnalysis, a DNA sequencing test to assess the risk of developing breast and ovarian cancer; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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

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