Myriad Genetics, Inc. (NASDAQ:MYGN) Director Daniel K. Spiegelman Sells 8,638 Shares

Daniel K. Spiegelman, principal of Myriad Genetics, Inc. (NASDAQ:MYGN – Get Rating), sold 8,638 shares in a deal on Friday, June 2. The stock sold at an average price of $23.01, for a total transaction of $198,760.38. As a result of the sale, the director now owns 40,493 shares of the company, valued at approximately $931,743.93. The transaction was disclosed in a filing with the SEC, available at this link.

Myriad Genetics Stocks Up 1.4%

Myriad Genetics stock rose $0.33 during trading hours on Friday to hit $23.43. The stock had trading volume of 632,890 shares, compared to its average volume of 600,397. The stock has a market cap of $1.91 billion, a price/earnings ratio of -13.02, and a beta of 1.81. The company’s 50-day simple moving average is $21.53 and its 200-day simple moving average is $20.04. Myriad Genetics, Inc. has a one-year low of $13.92 and a one-year high of $28.18.

Myriad Genetics (NASDAQ: MYGN – Get Rating) last released its quarterly earnings data on Wednesday, May 3. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.19) to ($0.02). Myriad Genetics had a negative net margin of 21.05% and a negative return on equity of 7.42%. The company reported revenue of $181.20 million during the quarter, compared to the consensus estimate of $171.56 million. In the same quarter last year, the company earned ($0.14) EPS. The company’s quarterly revenues increased 9.9% over the same quarter last year. Research analysts expect Myriad Genetics, Inc. to post -0.63 EPS for the current fiscal year.

Hedge funds weigh in on a myriad of genetics

A number of hedge funds have recently changed their holdings to MYGN. The Royal Bank of Canada increased its holdings in Myriad Genetics by 29.0% during the third quarter. The Royal Bank of Canada now owns 2,339 shares of the company worth $44,000 after buying another 526 shares during the period. Natixis purchased a new stock position in Myriad Genetics during the fourth quarter for approximately $44,000. Point72 Hong Kong Ltd increased its stake in Myriad Genetics shares by 722.8% in the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company worth $58,000 after acquiring an additional 2,826 shares during the period. Tower Research Capital LLC TRC increased its holdings in Myriad Genetics by 99.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company valued at $62,000 after acquiring an additional 1,326 shares during the most recent quarter. Finally, Boston Partners acquired a new stake in Myriad Genetics during the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 99.08% of the company’s shares.

Wall Street analysts expect growth

MYGN has been the subject of several recent analyst reports. StockNews.com began coverage of Myriad Genetics in a research note on Thursday, May 18. They have issued a “hold” rating on the stock. Goldman Sachs Group upgraded Myriad Genetics from a “sell” rating to a “buy” rating and raised its price target for the company from $18.00 to $25.00 in a research report on Tuesday, May 23 . Raymond James raised Myriad Genetics’ stock price target from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, March 3. Finally, Stephens raised the price target on Myriad Genetics’ shares from $17.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, March 6. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating for the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.60.

Myriad Genetics Company Profile

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Myriad Genetics, Inc is committed to the discovery, development and commercialization of transformative molecular diagnostic tests. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of tests designed to assess an individual’s risk of developing disease later in life.

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