Invesco Ltd. Boosts Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Invesco Ltd. increased its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,284 shares of the company's stock after acquiring an additional 211,503 shares during the period. Invesco Ltd. owned about 0.84% of Myriad Genetics worth $10,547,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Polymer Capital Management US LLC acquired a new position in shares of Myriad Genetics in the fourth quarter valued at approximately $179,000. Aristides Capital LLC acquired a new position in Myriad Genetics in the fourth quarter valued at $199,000. Wells Fargo & Company MN grew its holdings in shares of Myriad Genetics by 69.3% during the fourth quarter. Wells Fargo & Company MN now owns 214,127 shares of the company's stock worth $2,936,000 after purchasing an additional 87,659 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Myriad Genetics by 260.5% during the fourth quarter. Headlands Technologies LLC now owns 21,769 shares of the company's stock worth $298,000 after purchasing an additional 15,731 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Myriad Genetics by 13.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company's stock valued at $37,932,000 after purchasing an additional 336,770 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Trading Up 0.7 %

NASDAQ:MYGN traded up $0.05 on Friday, reaching $7.42. The stock had a trading volume of 2,666,846 shares, compared to its average volume of 945,067. The company has a market cap of $683.91 million, a price-to-earnings ratio of -5.71 and a beta of 1.87. Myriad Genetics, Inc. has a 12-month low of $7.18 and a 12-month high of $29.30. 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 firm's fifty day moving average is $9.55 and its two-hundred day moving average is $13.76.

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

Analyst Ratings Changes

Several research analysts have commented on MYGN shares. Guggenheim lowered Myriad Genetics from a "buy" rating to a "neutral" rating in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered their target price on shares of Myriad Genetics from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Scotiabank reduced their price objective on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 1st. Stephens reissued an "equal weight" rating and set a $20.00 target price on shares of Myriad Genetics in a research note on Thursday, January 16th. Finally, Piper Sandler raised Myriad Genetics from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $11.50 to $12.50 in a report on Wednesday, March 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.61.

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.