Paul J. Diaz Sells 15,000 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the sale, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Myriad Genetics Stock Up 4.4 %

MYGN stock opened at $24.08 on Friday. Myriad Genetics, Inc. has a twelve month low of $13.82 and a twelve month high of $29.30. The company has a current ratio of 1.96, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.18 billion, a P/E ratio of -8.54 and a beta of 1.91. The firm has a 50 day simple moving average of $27.09 and a 200-day simple moving average of $24.52.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The business had revenue of $211.50 million during the quarter, compared to the consensus estimate of $206.44 million. During the same quarter last year, the company earned ($0.21) earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that Myriad Genetics, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Myriad Genetics

Hedge funds have recently made changes to their positions in the stock. Glenview Capital Management LLC grew its position in shares of Myriad Genetics by 39.6% during the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock worth $101,135,000 after buying an additional 1,500,000 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Myriad Genetics during the first quarter worth $467,000. AMH Equity Ltd bought a new position in Myriad Genetics during the first quarter worth $2,345,000. Wellington Management Group LLP lifted its stake in Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock worth $138,185,000 after purchasing an additional 1,223,446 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Myriad Genetics by 8.6% during the fourth quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company’s stock worth $190,524,000 after purchasing an additional 789,496 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

MYGN has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Scotiabank increased their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Morgan Stanley initiated coverage on shares of Myriad Genetics in a research report on Thursday, September 19th. They set an “equal weight” rating and a $32.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Finally, TD Cowen increased their price objective on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.91.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.