Artisan Partners Limited Partnership Grows Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Artisan Partners Limited Partnership raised its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,766,729 shares of the company's stock after buying an additional 336,770 shares during the period. Artisan Partners Limited Partnership owned about 3.04% of Myriad Genetics worth $37,932,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new stake in shares of Myriad Genetics in the 3rd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock valued at $132,000 after acquiring an additional 1,471 shares during the period. Quantbot Technologies LP purchased a new position in shares of Myriad Genetics during the third quarter worth approximately $153,000. KBC Group NV increased its holdings in shares of Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after acquiring an additional 3,334 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Myriad Genetics during the 3rd quarter worth $212,000. 99.02% of the stock is owned by hedge funds and other institutional investors.

Myriad Genetics Price Performance

MYGN traded up $0.03 during trading on Wednesday, reaching $8.87. 106,034 shares of the stock were exchanged, compared to its average volume of 876,404. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a market capitalization of $809.91 million, a price-to-earnings ratio of -6.82 and a beta of 1.79. Myriad Genetics, Inc. has a 1 year low of $8.53 and a 1 year high of $29.30. The business's 50 day moving average price is $11.61 and its two-hundred day moving average price is $16.17.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million during the quarter, compared to analysts' expectations of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MYGN shares. The Goldman Sachs Group lowered their price target on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Leerink Partners lowered Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $30.00 to $21.00 in a report on Monday, December 9th. Stephens reaffirmed an "equal weight" rating and set a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. Piper Sandler raised shares of Myriad Genetics from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $19.00 target price (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. 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 MarketBeat.com, Myriad Genetics has an average rating of "Hold" and an average target price of $20.89.

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.