Myriad Genetics, Inc. (NASDAQ:MYGN) CFO Sells $1,037,500.00 in Stock

Myriad Genetics, Inc. (NASDAQ:MYGN) CFO Richard Bryan Riggsbee sold 25,000 shares of Myriad Genetics stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $41.50, for a total transaction of $1,037,500.00. Following the completion of the sale, the chief financial officer now owns 120,566 shares of the company’s stock, valued at $5,003,489. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ:MYGN opened at $47.08 on Monday. Myriad Genetics, Inc. has a 12 month low of $22.07 and a 12 month high of $50.44. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 3.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.86 and a current ratio of 3.15. The company has a 50 day moving average price of $27.20.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). Myriad Genetics had a net margin of 2.62% and a return on equity of 9.82%. The firm had revenue of $216.60 million during the quarter, compared to the consensus estimate of $217.76 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, research analysts expect that Myriad Genetics, Inc. will post 1.44 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in MYGN. Raymond James & Associates raised its position in shares of Myriad Genetics by 9.4% in the fourth quarter. Raymond James & Associates now owns 7,570 shares of the company’s stock valued at $220,000 after purchasing an additional 651 shares during the period. Two Sigma Advisers LP bought a new position in shares of Myriad Genetics in the fourth quarter valued at approximately $227,000. Bank of America Corp DE raised its position in shares of Myriad Genetics by 162.7% in the fourth quarter. Bank of America Corp DE now owns 67,796 shares of the company’s stock valued at $1,971,000 after purchasing an additional 41,993 shares during the period. Squarepoint Ops LLC increased its position in Myriad Genetics by 15.6% during the fourth quarter. Squarepoint Ops LLC now owns 19,235 shares of the company’s stock worth $559,000 after acquiring an additional 2,596 shares during the period. Finally, Legal & General Group Plc increased its position in Myriad Genetics by 8.1% during the fourth quarter. Legal & General Group Plc now owns 179,343 shares of the company’s stock worth $5,189,000 after acquiring an additional 13,488 shares during the period. 99.22% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on MYGN. Barclays upgraded shares of Myriad Genetics from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $18.00 to $40.00 in a research note on Thursday. Zacks Investment Research upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a research note on Monday, July 1st. ValuEngine upgraded shares of Myriad Genetics from a “sell” rating to a “hold” rating in a research note on Thursday. Bank of America upgraded shares of Myriad Genetics from an “underperform” rating to a “neutral” rating in a research note on Friday. Finally, Cowen cut shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and set a $26.64 target price for the company. in a research note on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $39.74.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. The company offers molecular diagnostic tests, including 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; BRACAnalysis CDx, a DNA sequencing test for use as a companion diagnostic with the platinum based chemotherapy agents and poly ADP ribose inhibitor Lynparza; riskScore, a clinically validated personalized medicine tool; GeneSight, a DNA genotyping test to optimize psychotropic drug selection for neuroscience patients; and Tumor BRACAnalysis CDx, a DNA sequencing test that is designed to be utilized to predict response to DNA damaging agents.

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