Mesirow Financial Investment Management Equity Management reduced its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,545 shares of the company’s stock after selling 61,810 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Myriad Genetics were worth $8,940,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in MYGN. Financial Gravity Companies Inc. purchased a new stake in shares of Myriad Genetics during the fourth quarter valued at approximately $42,000. Quantamental Technologies LLC purchased a new stake in Myriad Genetics in the fourth quarter worth approximately $123,000. Quantbot Technologies LP purchased a new stake in Myriad Genetics in the third quarter worth approximately $130,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Myriad Genetics by 14.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,137 shares of the company’s stock worth $149,000 after purchasing an additional 660 shares during the last quarter. Finally, First Quadrant L P CA purchased a new stake in Myriad Genetics in the third quarter worth approximately $201,000. 99.21% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on MYGN shares. Zacks Investment Research cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Monday, October 29th. BidaskClub upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Deutsche Bank raised their target price on shares of Myriad Genetics from $37.00 to $43.00 and gave the stock a “hold” rating in a report on Monday, November 5th. TheStreet cut shares of Myriad Genetics from a “b” rating to a “c” rating in a report on Thursday, November 8th. Finally, Cowen upgraded shares of Myriad Genetics from a “market perform” rating to an “outperform” rating in a report on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $39.87.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The business had revenue of $216.80 million for the quarter, compared to analysts’ expectations of $217.69 million. Myriad Genetics had a net margin of 3.25% and a return on equity of 9.79%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 EPS. As a group, equities analysts expect that Myriad Genetics, Inc. will post 1.49 EPS for the current fiscal year.
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Myriad Genetics Company Profile
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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