Dimensional Fund Advisors LP Buys 75,445 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Dimensional Fund Advisors LP lifted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,776,959 shares of the company's stock after acquiring an additional 75,445 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.07% of Myriad Genetics worth $67,924,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Glenview Capital Management LLC raised its position in shares of Myriad Genetics by 39.6% during the 4th quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company's stock valued at $101,135,000 after acquiring an additional 1,500,000 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Myriad Genetics by 20.4% during the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company's stock worth $138,185,000 after purchasing an additional 1,223,446 shares during the period. Vanguard Group Inc. grew its position in shares of Myriad Genetics by 8.6% during 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 period. Sei Investments Co. grew its position in shares of Myriad Genetics by 41.9% during the 4th quarter. Sei Investments Co. now owns 2,161,434 shares of the company's stock worth $41,370,000 after buying an additional 638,147 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Myriad Genetics by 80.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company's stock valued at $7,620,000 after acquiring an additional 149,234 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MYGN shares. TD Cowen raised their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Scotiabank upped 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 price target on Myriad Genetics from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Jefferies Financial Group reaffirmed an "underperform" rating and set a $20.00 price objective (down from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Finally, Wells Fargo & Company initiated coverage on Myriad Genetics in a research report on Tuesday, August 27th. They issued an "overweight" rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $28.91.

Myriad Genetics Stock Performance

Myriad Genetics stock traded up $0.23 during midday trading on Friday, hitting $26.46. The company's stock had a trading volume of 564,346 shares, compared to its average volume of 722,033. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -9.38 and a beta of 1.92. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $29.30. The company has a 50-day moving average price of $27.46 and a two-hundred day moving average price of $24.24.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The firm had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. During the same period in the prior year, the company posted ($0.21) earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Myriad Genetics, Inc. will post -0.35 earnings per share for the current year.

Insider Activity

In other news, Director Colleen F. Reitan sold 46,012 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 42,533 shares in the company, valued at $1,188,797.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other 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 transaction of $270,500.00. Following the completion of the transaction, the director now directly owns 121,648 shares in the company, valued at $3,290,578.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Colleen F. Reitan sold 46,012 shares of the 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 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. 2.10% of the stock is owned by corporate insiders.

Myriad Genetics 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.