Oppenheimer & Co. Inc. Buys Shares of 15,680 Myriad Genetics, Inc. (NASDAQ:MYGN)

Oppenheimer & Co. Inc. bought a new position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,680 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. lifted its position in Myriad Genetics by 22.3% during the 1st quarter. American Century Companies Inc. now owns 16,607 shares of the company’s stock worth $418,000 after buying an additional 3,027 shares in the last quarter. US Bancorp DE lifted its position in Myriad Genetics by 14.6% during the 1st quarter. US Bancorp DE now owns 4,243 shares of the company’s stock worth $108,000 after buying an additional 541 shares in the last quarter. Natixis Advisors L.P. acquired a new position in Myriad Genetics during the 1st quarter worth about $372,000. Bank of Montreal Can lifted its position in Myriad Genetics by 147.9% during the 1st quarter. Bank of Montreal Can now owns 65,458 shares of the company’s stock worth $1,687,000 after buying an additional 39,052 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Myriad Genetics by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 42,669 shares of the company’s stock worth $1,075,000 after buying an additional 15,255 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $17.87 on Wednesday. The stock’s 50-day simple moving average is $20.72 and its 200 day simple moving average is $21.29. Myriad Genetics, Inc. has a twelve month low of $13.92 and a twelve month high of $24.21. The firm has a market capitalization of $1.46 billion, a PE ratio of -5.88 and a beta of 1.77. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $183.50 million for the quarter, compared to analyst estimates of $187.16 million. Myriad Genetics had a negative return on equity of 9.43% and a negative net margin of 35.51%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) earnings per share. On average, analysts anticipate that Myriad Genetics, Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity at Myriad Genetics

In related news, Director Daniel K. Spiegelman sold 8,638 shares of Myriad Genetics stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $23.01, for a total transaction of $198,760.38. Following the transaction, the director now owns 40,493 shares of the company’s stock, valued at $931,743.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

MYGN has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Myriad Genetics from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. JPMorgan Chase & Co. dropped their price objective on Myriad Genetics from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Monday, August 7th. Finally, StockNews.com initiated coverage on Myriad Genetics in a report on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $24.20.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.