Advisory Services Network Lowers stake in Myriad Genetics (MYGN)

Myriad Genetics (MYGN) : Advisory Services Network reduced its stake in Myriad Genetics by 48.39% during the most recent quarter end. The investment management company now holds a total of 10,115 shares of Myriad Genetics which is valued at $215,905 after selling 9,485 shares in Myriad Genetics , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Myriad Genetics makes up approximately 0.04% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co boosted its stake in MYGN in the latest quarter, The investment management firm added 2,593 additional shares and now holds a total of 17,887 shares of Myriad Genetics which is valued at $381,798. Myriad Genetics makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in MYGN in the latest quarter, The investment management firm added 6,384 additional shares and now holds a total of 26,376 shares of Myriad Genetics which is valued at $558,907.Ct Mason reduced its stake in MYGN by selling 29,241 shares or 60.02% in the most recent quarter. The Hedge Fund company now holds 19,477 shares of MYGN which is valued at $412,718. Myriad Genetics makes up approx 0.18% of Ct Mason’s portfolio.Eqis Capital Management reduced its stake in MYGN by selling 2 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 15,462 shares of MYGN which is valued at $327,640. Myriad Genetics makes up approx 0.02% of Eqis Capital Management’s portfolio.

Myriad Genetics opened for trading at $21.16 and hit $21.53 on the upside on Friday, eventually ending the session at $21.345, with a gain of 0.78% or 0.165 points. The heightened volatility saw the trading volume jump to 13,28,640 shares. Company has a market cap of $1,476 M.

On the company’s financial health, Myriad Genetics reported $0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $0.37. The company had revenue of $186.50 million for the quarter, compared to analysts expectations of $187.75 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Myriad Genetics. Myriad Genetics was Downgraded by Ladenburg Thalmann to ” Sell” on Oct 10, 2016. Shares were Downgraded by Barclays on Aug 10, 2016 to ” Equal Weight” and Lowered the Price Target to $ 24 from a previous price target of $50 .Shares were Downgraded by Gabelli & Co on Aug 10, 2016 to ” Hold” and Lowered the Price Target to $ 32 from a previous price target of $46 .

Myriad Genetics Inc. (Myriad) is a molecular diagnostic company. The Company is engaged in the discovery development and marketing of transformative molecular diagnostic tests. Myriad operates through two segments: diagnostics which provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing or assess a patient’s risk of disease progression and disease recurrence and other which provides testing products and services to the pharmaceutical biotechnology and medical research industries research and development and clinical services for patients. It offers diagnostic tests for various diseases such as myRisk Hereditary Cancer test for hereditary cancers; myPlan Lung Cancer test for lung cancer; myPath Melanoma test for melanoma; Prolaris test for prostate cancer and Vectra DA for rheumatoid arthritis.

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