Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN – Get Rating) by 28.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,183 shares of the company’s stock after selling 55,320 shares during the period. Citigroup Inc. owned approximately 0.18% of Myriad Genetics worth $2,063,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Myriad Genetics by 29.0% in the 3rd quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock worth $44,000 after purchasing an additional 526 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in Myriad Genetics by 722.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock worth $58,000 after purchasing an additional 2,826 shares in the last quarter. Boston Partners purchased a new position in Myriad Genetics in the 4th quarter worth about $64,000. Exchange Traded Concepts LLC increased its stake in Myriad Genetics by 42.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,072 shares of the company’s stock worth $103,000 after purchasing an additional 2,116 shares in the last quarter. Finally, US Bancorp DE increased its stake in Myriad Genetics by 14.6% in the 1st quarter. US Bancorp DE now owns 4,243 shares of the company’s stock worth $108,000 after purchasing an additional 541 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Nicole Lambert sold 6,433 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $23.48, for a total value of $151,046.84. Following the completion of the sale, the chief operating officer now directly owns 240,506 shares in the company, valued at approximately $5,647,080.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Myriad Genetics Price Performance

Shares of Myriad Genetics stock opened at $22.12 on Friday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -12.29 and a beta of 1.83. Myriad Genetics, Inc. has a 52-week low of $13.92 and a 52-week high of $28.18. The stock has a 50-day simple moving average of $21.63 and a 200-day simple moving average of $19.91.

Myriad Genetics (NASDAQ:MYGN – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $181.20 million for the quarter, compared to analyst estimates of $171.56 million. Myriad Genetics had a negative net margin of 21.05% and a negative return on equity of 7.42%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. As a group, equities research analysts predict that Myriad Genetics, Inc. will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group raised Myriad Genetics from a “sell” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $25.00 in a research note on Tuesday. StockNews.com initiated coverage on Myriad Genetics in a research report on Thursday, May 18th. They set a “hold” rating for the company. Raymond James raised their price objective on Myriad Genetics from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, March 3rd. Finally, Stephens raised their price objective on Myriad Genetics from $17.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.60.

About Myriad Genetics

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