Eqis Capital Management Inc. boosted its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 116.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,109 shares of the company’s stock after buying an additional 18,904 shares during the period. Eqis Capital Management Inc. owned approximately 0.05% of Myriad Genetics worth $674,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI raised its stake in shares of Myriad Genetics by 1.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,733 shares of the company’s stock valued at $417,000 after buying an additional 357 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Myriad Genetics by 958.4% in the first quarter. Great West Life Assurance Co. Can now owns 97,514 shares of the company’s stock valued at $1,870,000 after buying an additional 88,301 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of Myriad Genetics during the first quarter valued at about $866,000. Wells Fargo & Company MN raised its stake in shares of Myriad Genetics by 38.0% in the first quarter. Wells Fargo & Company MN now owns 486,580 shares of the company’s stock valued at $9,343,000 after buying an additional 134,099 shares in the last quarter. Finally, BB&T Corp raised its stake in shares of Myriad Genetics by 11.6% in the first quarter. BB&T Corp now owns 202,231 shares of the company’s stock valued at $3,882,000 after buying an additional 21,058 shares in the last quarter.
Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) traded up 2.10% during mid-day trading on Friday, reaching $22.38. The company’s stock had a trading volume of 1,457,308 shares. Myriad Genetics, Inc. has a 52-week low of $15.15 and a 52-week high of $35.65. The company has a market cap of $1.52 billion, a PE ratio of 25.29 and a beta of 0.26. The company has a 50-day moving average price of $18.91 and a 200 day moving average price of $17.91.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. Myriad Genetics had a return on equity of 12.02% and a net margin of 8.08%. The firm earned $196.90 million during the quarter, compared to analyst estimates of $188.89 million. Equities analysts expect that Myriad Genetics, Inc. will post $1.00 earnings per share for the current year.
Several analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 target price (up previously from $18.00) on shares of Myriad Genetics in a research note on Wednesday. Cowen and Company reaffirmed a “market perform” rating and issued a $19.00 target price on shares of Myriad Genetics in a research note on Tuesday, March 28th. Stephens raised Myriad Genetics from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Monday, March 13th. TheStreet raised Myriad Genetics from a “d+” rating to a “c” rating in a research note on Wednesday, March 1st. Finally, Piper Jaffray Companies upped their target price on Myriad Genetics to $22.00 in a research note on Wednesday, February 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $22.58.
In other Myriad Genetics news, Director John T. Henderson purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The stock was purchased at an average cost of $18.66 per share, with a total value of $111,960.00. Following the purchase, the director now owns 38,524 shares of the company’s stock, valued at $718,857.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is currently owned by company insiders.
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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