Natixis Advisors LLC Acquires 37,002 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Natixis Advisors LLC raised its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 15.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,367 shares of the company's stock after purchasing an additional 37,002 shares during the quarter. Natixis Advisors LLC owned about 0.30% of Myriad Genetics worth $6,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hexagon Capital Partners LLC lifted its stake in shares of Myriad Genetics by 75.3% in the 2nd 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 period. Innealta Capital LLC acquired a new stake in shares of Myriad Genetics in the second quarter worth $36,000. Neo Ivy Capital Management bought a new position in Myriad Genetics during the second quarter worth $85,000. Ameritas Investment Partners Inc. increased its position in Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company's stock worth $186,000 after acquiring an additional 720 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Myriad Genetics by 90.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,805 shares of the company's stock worth $188,000 after acquiring an additional 4,193 shares during the period. Institutional investors and hedge funds own 99.02% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MYGN shares. TD Cowen upped their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Wednesday, August 7th. Piper Sandler increased their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Scotiabank increased 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. JPMorgan Chase & Co. raised their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an "underweight" rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company started coverage on Myriad Genetics in a report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Myriad Genetics presently has a consensus rating of "Hold" and a consensus price target of $28.60.

Insiders Place Their Bets

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now owns 42,533 shares in the company, valued at approximately $1,188,797.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.10% of the company's stock.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock traded down $0.69 during trading on Friday, hitting $26.97. 547,658 shares of the stock traded hands, compared to its average volume of 723,428. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -9.56 and a beta of 1.92. The firm's fifty day moving average is $27.02 and its 200-day moving average is $23.76. Myriad Genetics, Inc. has a 52 week low of $13.82 and a 52 week high of $29.08.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. The business had revenue of $211.50 million for the quarter, compared to analyst estimates of $206.44 million. During the same period last year, the company earned ($0.21) EPS. Myriad Genetics's revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts expect that Myriad Genetics, Inc. will post -0.34 EPS for the current fiscal year.

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.