Vanguard Group Inc. Boosts Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Vanguard Group Inc. boosted its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,591,043 shares of the company’s stock after purchasing an additional 279,379 shares during the period. Vanguard Group Inc. owned about 11.63% of Myriad Genetics worth $145,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC increased its stake in shares of Myriad Genetics by 23.6% during the third quarter. FMR LLC now owns 69,822 shares of the company’s stock valued at $1,912,000 after buying an additional 13,319 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Myriad Genetics by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,256 shares of the company’s stock valued at $5,430,000 after acquiring an additional 18,446 shares in the last quarter. State Street Corp increased its position in Myriad Genetics by 8.3% during the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after purchasing an additional 359,685 shares during the period. Jane Street Group LLC raised its holdings in Myriad Genetics by 19.4% in the 3rd quarter. Jane Street Group LLC now owns 121,181 shares of the company’s stock worth $3,319,000 after purchasing an additional 19,684 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Myriad Genetics by 188.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 38,533 shares of the company’s stock worth $1,055,000 after purchasing an additional 25,179 shares during the period. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Trading Down 0.7 %

Shares of NASDAQ MYGN opened at $8.07 on Tuesday. The firm’s 50 day moving average price is $11.26 and its 200-day moving average price is $15.61. Myriad Genetics, Inc. has a 52-week low of $7.81 and a 52-week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The company has a market cap of $736.86 million, a PE ratio of -6.21 and a beta of 1.87.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. On average, equities research analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Bank of America reduced their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday, March 3rd. Craig Hallum started coverage on Myriad Genetics in a report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price on the stock. Scotiabank lowered their target price on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 1st. StockNews.com cut Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Finally, Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average price target of $20.89.

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.