Allspring Global Investments Holdings LLC Lowers Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Allspring Global Investments Holdings LLC reduced its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 30.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,612 shares of the company’s stock after selling 2,056 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Myriad Genetics were worth $88,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MYGN. Wellington Management Group LLP increased its holdings in shares of Myriad Genetics by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company’s stock valued at $96,180,000 after purchasing an additional 251,426 shares in the last quarter. Earnest Partners LLC increased its holdings in Myriad Genetics by 6.7% in the third quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock valued at $55,711,000 after buying an additional 219,503 shares in the last quarter. Sei Investments Co. raised its position in shares of Myriad Genetics by 10.2% in the third quarter. Sei Investments Co. now owns 1,523,287 shares of the company’s stock worth $24,434,000 after acquiring an additional 140,528 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Myriad Genetics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 884,806 shares of the company’s stock worth $14,192,000 after acquiring an additional 24,665 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Myriad Genetics by 6.7% during the 3rd quarter. Invesco Ltd. now owns 757,576 shares of the company’s stock worth $12,152,000 after acquiring an additional 47,620 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Stock Up 8.9 %

MYGN stock opened at $19.80 on Tuesday. The stock has a market capitalization of $1.79 billion, a P/E ratio of -6.19 and a beta of 1.95. Myriad Genetics, Inc. has a 52 week low of $13.82 and a 52 week high of $24.21. The firm has a 50-day simple moving average of $21.02 and a 200-day simple moving average of $19.68. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $196.60 million during the quarter, compared to analyst estimates of $194.80 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. Myriad Genetics’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) EPS. Equities analysts forecast that Myriad Genetics, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group lifted their price target on Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.17.

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.