Alliancebernstein L.P. decreased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,669 shares of the company’s stock after selling 11,009 shares during the period. Alliancebernstein L.P. owned about 0.24% of Myriad Genetics worth $8,265,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Myriad Genetics by 59.5% during the first quarter. Royal Bank of Canada now owns 4,597 shares of the company’s stock worth $136,000 after purchasing an additional 1,715 shares during the period. Dupont Capital Management Corp lifted its holdings in Myriad Genetics by 56.2% during the second quarter. Dupont Capital Management Corp now owns 15,002 shares of the company’s stock worth $561,000 after acquiring an additional 5,396 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in Myriad Genetics during the second quarter worth about $205,000. Wells Fargo & Company MN lifted its holdings in Myriad Genetics by 76.8% during the second quarter. Wells Fargo & Company MN now owns 376,515 shares of the company’s stock worth $14,071,000 after acquiring an additional 163,613 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Myriad Genetics by 186.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,925 shares of the company’s stock worth $1,641,000 after acquiring an additional 28,575 shares in the last quarter. Institutional investors own 99.80% of the company’s stock.
MYGN has been the topic of several recent analyst reports. BidaskClub lowered Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. ValuEngine lowered Myriad Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Zacks Investment Research upgraded Myriad Genetics from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Friday, August 24th. TheStreet lowered Myriad Genetics from a “b” rating to a “c” rating in a report on Thursday, November 8th. Finally, Barclays lifted their target price on Myriad Genetics from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $41.97.
Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The company had revenue of $202.30 million for the quarter, compared to analyst estimates of $203.20 million. Myriad Genetics had a return on equity of 10.07% and a net margin of 7.07%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Analysts predict that Myriad Genetics, Inc. will post 1.5 earnings per share for the current 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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