Continental Advisors LLC lessened its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 19.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC acquired a new position in shares of Myriad Genetics during the 1st quarter worth about $37,000. Vantage Consulting Group Inc purchased a new stake in Myriad Genetics during the 4th quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new stake in Myriad Genetics during the 1st quarter valued at about $41,000. Penserra Capital Management LLC grew its stake in Myriad Genetics by 174.3% during the 4th quarter. Penserra Capital Management LLC now owns 1,750 shares of the company’s stock valued at $34,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Myriad Genetics by 1,764.1% during the 1st quarter. Captrust Financial Advisors now owns 2,703 shares of the company’s stock valued at $82,000 after acquiring an additional 2,558 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.
Several analysts recently issued reports on MYGN shares. The Goldman Sachs Group started coverage on shares of Myriad Genetics in a research note on Thursday, June 3rd. They set a “sell” rating and a $25.00 price objective for the company. Raymond James started coverage on shares of Myriad Genetics in a research note on Tuesday, June 15th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.33.
Shares of Myriad Genetics stock traded down $0.04 during mid-day trading on Thursday, hitting $32.03. The stock had a trading volume of 9,958 shares, compared to its average volume of 781,882. The firm’s 50-day simple moving average is $29.86. Myriad Genetics, Inc. has a 12-month low of $11.32 and a 12-month high of $34.02. 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 company has a market cap of $2.47 billion, a price-to-earnings ratio of -15.24 and a beta of 1.59.
Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Sunday, May 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. Myriad Genetics had a negative net margin of 27.26% and a negative return on equity of 7.33%. The business had revenue of $173.10 million during the quarter, compared to analysts’ expectations of $155.36 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.64 earnings per share for the current year.
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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