Continental Advisors LLC Lowers Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Continental Advisors LLC decreased its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,392 shares of the company’s stock after selling 7,000 shares during the period. Continental Advisors LLC’s holdings in Myriad Genetics were worth $895,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Myriad Genetics by 2.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 30,747 shares of the company’s stock valued at $936,000 after purchasing an additional 600 shares during the period. The PNC Financial Services Group Inc. lifted its stake in shares of Myriad Genetics by 13.7% in the first quarter. The PNC Financial Services Group Inc. now owns 5,311 shares of the company’s stock valued at $162,000 after purchasing an additional 639 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Myriad Genetics by 6.9% in the first quarter. Mutual of America Capital Management LLC now owns 10,044 shares of the company’s stock valued at $306,000 after purchasing an additional 647 shares during the period. Fifth Third Bancorp lifted its stake in shares of Myriad Genetics by 8.5% in the first quarter. Fifth Third Bancorp now owns 12,614 shares of the company’s stock valued at $384,000 after purchasing an additional 987 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Myriad Genetics by 1.9% in the first quarter. Fisher Asset Management LLC now owns 54,078 shares of the company’s stock valued at $1,647,000 after purchasing an additional 1,024 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:MYGN traded down $0.04 during trading on Thursday, reaching $32.03. The stock had a trading volume of 9,958 shares, compared to its average volume of 781,882. The firm’s fifty day moving average is $29.86. The company has a current ratio of 2.21, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.47 billion, a PE ratio of -15.24 and a beta of 1.59. Myriad Genetics, Inc. has a fifty-two week low of $11.32 and a fifty-two week high of $34.02.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Sunday, May 2nd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. The business had revenue of $173.10 million during the quarter, compared to analyst estimates of $155.36 million. Myriad Genetics had a negative net margin of 27.26% and a negative return on equity of 7.33%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities analysts anticipate that Myriad Genetics, Inc. will post -0.64 earnings per share for the current fiscal year.

In related news, insider Jerry S. Lanchbury sold 43,295 shares of the business’s stock in a transaction that occurred on Tuesday, July 13th. The shares were sold at an average price of $33.74, for a total value of $1,460,773.30. Following the completion of the sale, the insider now directly owns 269,255 shares in the company, valued at $9,084,663.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jerry S. Lanchbury sold 32,308 shares of the business’s stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $32.27, for a total transaction of $1,042,579.16. Following the completion of the sale, the insider now owns 262,974 shares of the company’s stock, valued at $8,486,170.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 285,428 shares of company stock valued at $9,200,150. 1.70% of the stock is owned by insiders.

A number of equities analysts have issued reports on MYGN shares. The Goldman Sachs Group started coverage on shares of Myriad Genetics in a research report on Thursday, June 3rd. They set a “sell” rating and a $25.00 target price for the company. Raymond James started coverage on shares of Myriad Genetics in a research report on Tuesday, June 15th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Myriad Genetics presently has an average rating of “Hold” and an average target price of $25.33.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, develops and markets predictive, personalized, and prognostic medicine tests in the United States and internationally. The company offers 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; and riskScore, a personalized medicine tool.

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

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