Pictet Asset Management Holding SA Sells 36,262 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Pictet Asset Management Holding SA lessened its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 479,808 shares of the company's stock after selling 36,262 shares during the period. Pictet Asset Management Holding SA owned 0.53% of Myriad Genetics worth $6,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN grew its holdings in Myriad Genetics by 21.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company's stock worth $69,226,000 after acquiring an additional 440,107 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Myriad Genetics by 377.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company's stock valued at $7,533,000 after purchasing an additional 434,420 shares during the last quarter. State Street Corp increased its holdings in shares of Myriad Genetics by 8.3% in the third quarter. State Street Corp now owns 4,703,442 shares of the company's stock valued at $128,827,000 after purchasing an additional 359,685 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Myriad Genetics by 13.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company's stock worth $37,932,000 after purchasing an additional 336,770 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Myriad Genetics by 50.2% during the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company's stock worth $12,410,000 after buying an additional 302,367 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MYGN. Leerink Partners downgraded Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. StockNews.com downgraded shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Leerink Partnrs cut shares of Myriad Genetics from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 9th. Craig Hallum initiated coverage on Myriad Genetics in a report on Wednesday, February 12th. They set a "buy" rating and a $29.00 target price on the stock. Finally, Stephens reaffirmed an "equal weight" rating and issued a $20.00 price target on shares of Myriad Genetics in a research note on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.89.

Myriad Genetics Stock Down 4.2 %

NASDAQ MYGN traded down $0.34 on Tuesday, reaching $7.73. The company had a trading volume of 1,152,641 shares, compared to its average volume of 892,886. The company's fifty day moving average is $11.07 and its 200-day moving average is $15.42. Myriad Genetics, Inc. has a 1-year low of $7.61 and a 1-year high of $29.30. The firm has a market capitalization of $705.82 million, a price-to-earnings ratio of -5.95 and a beta of 1.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.12). The firm had revenue of $210.60 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted ($0.12) earnings per share. On average, research analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Myriad Genetics Company 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.