Mirae Asset Global Investments Co. Ltd. has a $4.72 million equity position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Myriad Genetics, Inc. (NASDAQ: MYGN – Get Rating) stock by 18.6% in the fourth quarter, according to the company in its most recent disclosure to the Securities and Exchange Commission (SEC). The institutional investor owned 325,422 shares of the company after selling 74,151 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.40% of Myriad Genetics at a value of $4,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holding in Myriad Genetics shares by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 48,685 shares of the company valued at $929,000 after acquiring an additional 1,694 shares in the recent quarter. Pictet Asset Management SA increased its position in Myriad Genetics shares by 27.8% during the third quarter. Pictet Asset Management SA now owns 221,679 shares of the company valued at $4,230,000 after acquiring an additional 48,269 shares in the recent quarter. Disciplined Growth Investors Inc. MN increased its holding in Myriad Genetics shares by 19.9% ​​during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,278,490 shares of the company valued at $43,474,000 after acquiring an additional 377,703 shares in the recent quarter. Artisan Partners Limited Partnership increased its holding in Myriad Genetics shares by 20.2% during the third quarter. Artisan Partners Limited Partnership now owns 2,675,545 shares of the company valued at $51,049,000 after acquiring an additional 449,150 shares in the recent quarter. Finally, Credit Suisse AG increased its position in Myriad Genetics shares by 0.7% during the third quarter. Credit Suisse AG now owns 125,751 shares of the company worth $2,399,000 after acquiring another 863 shares in the recent quarter. 99.08% of the stock is held by institutional investors.

Analysts set new price targets

MYGN has been the subject of several recent research reports. StockNews.com began covering Myriad Genetics’ stock in a research report on Thursday, May 18. They set a “hold” rating for the company. Raymond James raised his price target on shares of Myriad Genetics from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, March 3. Stephens raised his price target on shares of Myriad Genetics from $17.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 6. Finally, Goldman Sachs raised shares of Myriad Genetics from a “sell” rating to a “buy” rating and raised their price target for the stock from $18.00 to $25.00 in a research report Tuesday. Three equity research analysts rated the stock with a hold rating and two gave the company a buy rating. According to MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and a consensus price target of $26.60.

Myriad Genetics trades up 13.0%

MYGN opened Wednesday at $22.68. Myriad Genetics, Inc. has a twelve-month low of $13.92 and a twelve-month high of $28.18. The company’s 50-day moving average price is $21.67, and its two-hundred-day moving average price is $19.88.

Myriad Genetics (NASDAQ: MYGN – Get Rating) last released its earnings results on Wednesday, May 3. The company reported ($0.21) earnings per share for the quarter, missing analyst consensus estimates of ($0.19) to ($0.02). The company reported revenue of $181.20 million during the quarter, compared to analyst expectations of $171.56 million. Myriad Genetics had a negative net margin of 21.05% and a negative return on equity of 7.42%. The company’s revenues increased 9.9% over the same quarter last year. During the same prior-year quarter, the company earned ($0.14) earnings per share. Sell-side analysts expect Myriad Genetics, Inc. to post -0.61 EPS for the current fiscal year.

Insider buying and selling at Myriad Genetics

In related news, COO Nicole Lambert sold 6,433 shares of the company in a deal that occurred on Monday, March 27. The shares sold at an average price of $23.48, for a total transaction of $151,046.84. As a result of the sale, the chief operating officer now directly owns 240,506 shares of the company, valued at approximately $5,647,080.88. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Corporate insiders own 2.00% of the company’s shares.

A myriad of genetic profiles

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Myriad Genetics, Inc is committed to the discovery, development and commercialization of transformative molecular diagnostic tests. It operates through the Diagnostics and Other segments. The Diagnostics segment provides testing and collaborative development of tests designed to assess an individual’s risk of developing disease later in life.

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