Charles Schwab Investment Management Inc. Grows Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Charles Schwab Investment Management Inc. raised its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 3.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,125,535 shares of the company's stock after buying an additional 42,233 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of Myriad Genetics worth $15,431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of Myriad Genetics in the third quarter valued at approximately $32,000. KBC Group NV boosted its holdings in 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 purchasing an additional 3,334 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company's stock valued at $132,000 after purchasing an additional 1,471 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Myriad Genetics by 588.4% in the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company's stock worth $135,000 after purchasing an additional 4,207 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Myriad Genetics in the third quarter worth $153,000. 99.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MYGN shares. Stephens restated an "equal weight" rating and set a $20.00 target price on shares of Myriad Genetics in a research report on Thursday, January 16th. Craig Hallum started coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price objective on the stock. UBS Group lowered their target price on shares of Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. The Goldman Sachs Group cut their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Raymond James restated an "outperform" rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. Three equities 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $21.89.

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Myriad Genetics Stock Down 0.3 %

Shares of MYGN stock traded down $0.03 during midday trading on Monday, reaching $9.98. 657,824 shares of the stock were exchanged, compared to its average volume of 852,278. The firm has a market cap of $911.26 million, a PE ratio of -7.68 and a beta of 1.79. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $12.14 and its two-hundred day moving average is $17.05. Myriad Genetics, Inc. has a 1 year low of $9.36 and a 1 year high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $210.35 million. During the same quarter last year, the firm posted ($0.12) EPS. On average, equities research analysts predict that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

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.