Federated Hermes Inc. Lowers Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Federated Hermes Inc. decreased its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 84.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,600 shares of the company's stock after selling 47,999 shares during the quarter. Federated Hermes Inc.'s holdings in Myriad Genetics were worth $118,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MYGN. KBC Group NV boosted 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 worth $80,000 after purchasing an additional 3,334 shares in the last quarter. Inspire Advisors LLC boosted its stake in Myriad Genetics by 48.1% in the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock worth $154,000 after buying an additional 3,644 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Myriad Genetics during the fourth quarter valued at approximately $161,000. Entropy Technologies LP purchased a new position in shares of Myriad Genetics during the fourth quarter worth approximately $178,000. Finally, Blue Trust Inc. lifted its holdings in shares of Myriad Genetics by 14.1% in the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company's stock worth $198,000 after acquiring an additional 1,788 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MYGN has been the topic of a number of recent research reports. UBS Group reduced their price objective on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Bank of America decreased their price target on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research note on Monday, March 3rd. Stephens reissued an "equal weight" rating and set a $20.00 price objective on shares of Myriad Genetics in a research note on Thursday, January 16th. Guggenheim downgraded shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Finally, StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.61.

Myriad Genetics Stock Up 0.1 %

Myriad Genetics stock traded up $0.01 during trading hours on Thursday, hitting $7.30. 514,701 shares of the stock traded hands, compared to its average volume of 927,189. Myriad Genetics, Inc. has a one year low of $7.24 and a one year high of $29.30. The company has a market cap of $672.39 million, a PE ratio of -5.61 and a beta of 1.87. The firm's 50-day moving average price is $9.83 and its two-hundred day moving average price is $14.01. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). The firm 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 period in the previous year, the company earned ($0.12) earnings per share. On average, research analysts forecast 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.