Jennison Associates LLC Raises Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Jennison Associates LLC lifted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 144.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,015 shares of the company's stock after acquiring an additional 34,853 shares during the period. Jennison Associates LLC owned 0.06% of Myriad Genetics worth $809,000 at the end of the most recent reporting period.

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

Myriad Genetics Trading Up 0.3 %

Shares of Myriad Genetics stock traded up $0.04 during trading on Monday, hitting $12.45. The stock had a trading volume of 837,298 shares, compared to its average volume of 1,053,961. The stock has a market cap of $1.13 billion, a PE ratio of -9.58 and a beta of 1.88. Myriad Genetics, Inc. has a 12 month low of $12.04 and a 12 month high of $29.30. The firm's fifty day simple moving average is $13.65 and its 200-day simple moving average is $20.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $213.30 million during the quarter, compared to the consensus estimate of $209.82 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 business earned ($0.17) EPS. As a group, sell-side analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MYGN shares. The Goldman Sachs Group cut their price objective on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Leerink Partners cut Myriad Genetics from an "outperform" rating to a "market perform" rating and cut their price target for the company from $30.00 to $21.00 in a report on Monday, December 9th. Leerink Partnrs cut Myriad Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. UBS Group began coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a "neutral" rating and a $18.00 target price for the company. Finally, Bank of America reduced their price target on shares of Myriad Genetics from $15.00 to $13.00 and set an "underperform" rating on the stock in a research report on Friday, December 13th. Three equities research 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, the company currently has a consensus rating of "Hold" and an average price target of $22.00.

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.