Skandinaviska Enskilda Banken AB publ cut its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 16.3% during the first quarter, Holdings Channel reports. The institutional investor owned 185,800 shares of the company’s stock after selling 36,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Myriad Genetics were worth $3,567,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Myriad Genetics during the first quarter valued at about $112,000. Creative Planning increased its position in shares of Myriad Genetics by 11.8% in the first quarter. Creative Planning now owns 6,371 shares of the company’s stock valued at $122,000 after buying an additional 671 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Myriad Genetics during the first quarter valued at about $144,000. Karp Capital Management Corp purchased a new position in shares of Myriad Genetics during the first quarter valued at about $223,000. Finally, Parametrica Management Ltd purchased a new position in shares of Myriad Genetics during the first quarter valued at about $236,000.
Shares of Myriad Genetics, Inc. (NASDAQ:MYGN) traded up 2.05% during trading on Wednesday, hitting $25.93. 357,302 shares of the company were exchanged. Myriad Genetics, Inc. has a 12 month low of $15.15 and a 12 month high of $32.97. The firm’s 50-day moving average price is $21.80 and its 200 day moving average price is $18.82. The firm has a market capitalization of $1.77 billion, a PE ratio of 55.41 and a beta of 0.34.
Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, May 2nd. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $196.90 million during the quarter, compared to analyst estimates of $188.89 million. Myriad Genetics had a net margin of 4.26% and a return on equity of 10.53%. On average, equities research analysts expect that Myriad Genetics, Inc. will post $1.01 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. TheStreet upgraded shares of Myriad Genetics from a “d+” rating to a “c” rating in a research report on Wednesday, March 1st. Jefferies Group LLC restated a “hold” rating and set a $18.00 price objective on shares of Myriad Genetics in a research report on Friday, March 24th. Cowen and Company restated a “market perform” rating and set a $19.00 price objective on shares of Myriad Genetics in a research report on Tuesday, March 28th. Finally, Deutsche Bank AG increased their price objective on shares of Myriad Genetics from $15.00 to $20.00 and gave the company a “sell” rating in a research report on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.00.
About Myriad Genetics
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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