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

Fisher Asset Management LLC boosted its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 47.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 602,842 shares of the company’s stock after buying an additional 195,094 shares during the period. Fisher Asset Management LLC owned approximately 0.66% of Myriad Genetics worth $16,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its holdings in Myriad Genetics by 75.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after buying an additional 491 shares during the period. Innealta Capital LLC purchased a new stake in Myriad Genetics during the second quarter worth about $36,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 412 shares during the period. Point72 DIFC Ltd purchased a new stake in Myriad Genetics during the second quarter worth about $60,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Myriad Genetics during the second quarter worth about $82,000. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Stock Performance

NASDAQ MYGN opened at $16.28 on Thursday. The business’s 50-day simple moving average is $21.77 and its 200-day simple moving average is $24.35. The firm has a market capitalization of $1.48 billion, a P/E ratio of -12.52 and a beta of 1.93. Myriad Genetics, Inc. has a 1-year low of $14.72 and a 1-year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Insider Activity

In other Myriad Genetics news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now directly owns 121,648 shares of the company’s stock, valued at $3,290,578.40. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now directly owns 962,378 shares in the company, 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. In the last 90 days, insiders have sold 71,012 shares of company stock valued at $1,900,485. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MYGN shares. StockNews.com lowered shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research 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 research report on Monday, November 18th. Finally, Scotiabank boosted their price objective on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Myriad Genetics has an average rating of “Hold” and a consensus price target of $27.36.

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 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.