Earnest Partners LLC Raises Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Earnest Partners LLC grew its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,072,018 shares of the company's stock after acquiring an additional 138,960 shares during the period. Earnest Partners LLC owned about 4.50% of Myriad Genetics worth $99,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its holdings in Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company's stock valued at $28,000 after acquiring an additional 491 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Myriad Genetics by 9.0% during the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company's stock worth $186,000 after acquiring an additional 720 shares during the last quarter. Arizona State Retirement System increased its holdings in Myriad Genetics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 25,160 shares of the company's stock valued at $615,000 after acquiring an additional 829 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Myriad Genetics by 1.5% during the second quarter. Federated Hermes Inc. now owns 56,807 shares of the company's stock valued at $1,389,000 after purchasing an additional 846 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in Myriad Genetics by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company's stock valued at $1,652,000 after buying an additional 889 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Heinrich Dreismann sold 10,000 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the transaction, the director now directly owns 121,648 shares of the company's stock, valued at $3,290,578.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Colleen F. Reitan sold 46,012 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the transaction, the director now owns 42,533 shares in the company, valued at $1,188,797.35. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock traded up $0.14 on Thursday, reaching $26.23. 595,372 shares of the stock were exchanged, compared to its average volume of 722,881. Myriad Genetics, Inc. has a twelve month low of $13.82 and a twelve month high of $29.30. The business has a 50 day moving average price of $27.46 and a two-hundred day moving average price of $24.20. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -9.26 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Analysts anticipate that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MYGN has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Myriad Genetics from $17.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 7th. Morgan Stanley initiated coverage on shares of Myriad Genetics in a research note on Thursday, September 19th. They set an "equal weight" rating and a $32.00 price objective on the stock. Wells Fargo & Company started coverage on Myriad Genetics in a research report on Tuesday, August 27th. They set an "overweight" rating and a $35.00 target price on the stock. Jefferies Financial Group reissued an "underperform" rating and issued a $20.00 price target (down from $25.00) on shares of Myriad Genetics in a research report on Monday, June 3rd. Finally, Scotiabank raised their price objective on Myriad Genetics from $29.00 to $34.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics presently has a consensus rating of "Hold" and a consensus target price of $28.91.

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.