Fisher Asset Management LLC Increases Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Fisher Asset Management LLC lifted its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 47.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 602,842 shares of the company’s stock after acquiring an additional 195,094 shares during the quarter. Fisher Asset Management LLC’s holdings in Myriad Genetics were worth $16,512,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MYGN. Hexagon Capital Partners LLC increased its position in shares of Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock worth $28,000 after acquiring an additional 491 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Myriad Genetics during the second quarter worth about $36,000. GAMMA Investing LLC increased its position in shares of Myriad Genetics by 34.1% during the third quarter. GAMMA Investing LLC now owns 1,620 shares of the company’s stock worth $44,000 after acquiring an additional 412 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Myriad Genetics during the second quarter worth about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Myriad Genetics during the second quarter worth about $82,000. 99.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. TD Cowen boosted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley lowered their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Piper Sandler lowered their price objective on Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Finally, Scotiabank boosted their price objective on Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.36.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $16.28 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $21.77 and a two-hundred day moving average of $24.35. The company has a market cap of $1.48 billion, a P/E ratio of -12.52 and a beta of 1.93. Myriad Genetics, Inc. has a 52 week low of $14.72 and a 52 week high of $29.30.

Insider Transactions at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. The trade was a 51.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,012 shares of company stock worth $1,900,485. Company insiders own 2.10% of the company’s stock.

About Myriad Genetics

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 pharmacogenomics. 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, and 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.