Sei Investments Co. Grows Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Sei Investments Co. lifted its position in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,417,192 shares of the company's stock after buying an additional 124,007 shares during the period. Sei Investments Co. owned approximately 2.67% of Myriad Genetics worth $59,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glenview Capital Management LLC grew its position in shares of Myriad Genetics by 39.6% in the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company's stock worth $101,135,000 after buying an additional 1,500,000 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Myriad Genetics in the 1st quarter worth approximately $467,000. AMH Equity Ltd purchased a new position in shares of Myriad Genetics in the 1st quarter worth approximately $2,345,000. Wellington Management Group LLP grew its position in shares of Myriad Genetics by 20.4% in the 4th quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company's stock worth $138,185,000 after buying an additional 1,223,446 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Myriad Genetics by 8.6% in the 4th quarter. Vanguard Group Inc. now owns 9,954,233 shares of the company's stock worth $190,524,000 after buying an additional 789,496 shares during the last quarter. Hedge funds and other institutional investors own 99.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Myriad Genetics in a research note on Thursday. They issued an "equal weight" rating and a $32.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 7th. Scotiabank lifted their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 13th. Piper Sandler lifted their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.91.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN traded down $0.71 during trading on Monday, hitting $26.93. 524,896 shares of the stock traded hands, compared to its average volume of 725,324. 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 company has a market cap of $2.44 billion, a price-to-earnings ratio of -9.58 and a beta of 1.92. The company has a fifty day moving average price of $27.49 and a two-hundred day moving average price of $24.13. Myriad Genetics, Inc. has a 52-week low of $13.82 and a 52-week high of $29.30.

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

Insider Activity

In other news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 of the company's stock, valued at approximately $1,188,797.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Heinrich Dreismann sold 10,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now owns 121,648 shares of the company's stock, valued at approximately $3,290,578.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of the business's stock in a transaction 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 sale, the director now directly owns 42,533 shares of the company's stock, valued at approximately $1,188,797.35. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

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.