Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 2.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 453,251 shares of the company’s stock after purchasing an additional 11,864 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Myriad Genetics worth $4,020,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Myriad Genetics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company’s stock worth $145,203,000 after buying an additional 279,379 shares in the last quarter. Earnest Partners LLC raised its position in Myriad Genetics by 0.4% in the fourth quarter. Earnest Partners LLC now owns 3,971,598 shares of the company’s stock valued at $54,451,000 after purchasing an additional 15,650 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Myriad Genetics by 13.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock valued at $37,932,000 after purchasing an additional 336,770 shares during the period. Sei Investments Co. grew its stake in Myriad Genetics by 7.4% during the 4th quarter. Sei Investments Co. now owns 2,526,761 shares of the company’s stock valued at $34,642,000 after purchasing an additional 174,770 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Myriad Genetics by 58.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company’s stock valued at $24,950,000 after purchasing an additional 668,429 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Down 4.7%

MYGN stock opened at $4.82 on Friday. The company has a fifty day moving average price of $4.84 and a 200 day moving average price of $8.68. Myriad Genetics, Inc. has a 12 month low of $3.81 and a 12 month high of $29.30. The company has a market cap of $444.31 million, a price-to-earnings ratio of -4.30 and a beta of 1.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.71.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Myriad Genetics had a negative net margin of 12.20% and a negative return on equity of 4.95%. The business had revenue of $195.90 million for the quarter, compared to analysts’ expectations of $200.37 million. During the same quarter last year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 33.6% compared to the same quarter last year. Sell-side analysts expect that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MYGN shares. Wells Fargo & Company cut shares of Myriad Genetics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $6.00 in a report on Wednesday, May 7th. The Goldman Sachs Group decreased their price target on Myriad Genetics from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Wolfe Research cut shares of Myriad Genetics from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 8th. Piper Sandler cut their target price on Myriad Genetics from $12.50 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Finally, UBS Group reduced their target price on shares of Myriad Genetics from $16.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.38.

About Myriad Genetics

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.