Fisher Asset Management LLC Purchases 219,607 Shares of Myriad Genetics, Inc. $MYGN

Fisher Asset Management LLC lifted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 20.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,294,822 shares of the company’s stock after acquiring an additional 219,607 shares during the quarter. Fisher Asset Management LLC owned approximately 1.39% of Myriad Genetics worth $6,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Myriad Genetics by 6,192.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,349 shares of the company’s stock valued at $28,000 after buying an additional 5,264 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Myriad Genetics by 407.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,773 shares of the company’s stock valued at $31,000 after acquiring an additional 4,635 shares during the period. PNC Financial Services Group Inc. increased its position in Myriad Genetics by 41.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the company’s stock valued at $48,000 after acquiring an additional 2,625 shares during the period. Quinn Opportunity Partners LLC bought a new position in shares of Myriad Genetics during the second quarter valued at $53,000. Finally, American Century Companies Inc. acquired a new position in shares of Myriad Genetics during the second quarter worth $55,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MYGN shares. TD Cowen raised their target price on Myriad Genetics from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wells Fargo & Company upped their target price on Myriad Genetics from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Myriad Genetics in a research report on Monday. UBS Group boosted their price target on shares of Myriad Genetics from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler decreased their price target on Myriad Genetics from $9.00 to $8.50 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and a consensus price target of $11.45.

Myriad Genetics Stock Performance

Shares of MYGN stock opened at $7.33 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.12 and a current ratio of 2.33. The company has a market capitalization of $683.23 million, a price-to-earnings ratio of -1.69 and a beta of 1.81. The company has a 50-day simple moving average of $7.43 and a two-hundred day simple moving average of $6.17. Myriad Genetics, Inc. has a 52-week low of $3.76 and a 52-week high of $16.63.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings data on Tuesday, January 16th. The company reported ($0.19) earnings per share for the quarter. Myriad Genetics had a negative return on equity of 7.11% and a negative net margin of 48.53%.The business had revenue of $156.40 million during the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. Research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

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.