Fifth Third Bancorp Decreases Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Fifth Third Bancorp reduced its position in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 29.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,315 shares of the company's stock after selling 23,296 shares during the period. Fifth Third Bancorp owned about 0.06% of Myriad Genetics worth $758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Myriad Genetics by 34.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,620 shares of the company's stock worth $44,000 after purchasing an additional 412 shares in the last quarter. Atria Investments Inc increased its position in Myriad Genetics by 5.4% during the 3rd quarter. Atria Investments Inc now owns 11,414 shares of the company's stock worth $313,000 after purchasing an additional 581 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Myriad Genetics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company's stock worth $87,000 after acquiring an additional 583 shares during the period. Creative Planning grew its stake in Myriad Genetics by 9.8% during the 3rd quarter. Creative Planning now owns 9,949 shares of the company's stock valued at $273,000 after purchasing an additional 892 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Myriad Genetics during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 99.02% of the company's stock.

Wall Street Analyst Weigh In

MYGN has been the topic of a number of analyst reports. StockNews.com raised shares of Myriad Genetics from a "hold" rating to a "buy" rating in a report on Thursday, January 9th. Leerink Partners downgraded Myriad Genetics from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Bank of America lowered their target price on Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating on the stock in a research report on Friday, December 13th. Piper Sandler decreased their price target on Myriad Genetics from $24.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Leerink Partnrs downgraded shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $22.00.

Myriad Genetics Trading Up 1.5 %

Shares of NASDAQ:MYGN traded up $0.18 during midday trading on Thursday, hitting $12.72. The company had a trading volume of 854,581 shares, compared to its average volume of 1,014,805. 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, Inc. has a 12 month low of $12.04 and a 12 month high of $29.30. The firm has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $21.16. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -9.81 and a beta of 1.89.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.08). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 million. During the same quarter last year, the company posted ($0.17) EPS. On average, analysts predict that Myriad Genetics, Inc. will post -0.28 EPS for the current 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.