Sei Investments Co. Acquires 174,770 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Sei Investments Co. grew its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,526,761 shares of the company's stock after purchasing an additional 174,770 shares during the period. Sei Investments Co. owned about 2.78% of Myriad Genetics worth $34,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Loomis Sayles & Co. L P lifted its position in Myriad Genetics by 153.7% in the third quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company's stock worth $59,973,000 after purchasing an additional 1,326,497 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of 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 period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Myriad Genetics by 377.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company's stock valued at $7,533,000 after acquiring an additional 434,420 shares in the last quarter. Iron Triangle Partners LP bought a new stake in shares of Myriad Genetics in the 3rd quarter worth about $11,007,000. Finally, State Street Corp increased its position in shares of Myriad Genetics by 8.3% during the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company's stock worth $128,827,000 after purchasing an additional 359,685 shares in the last quarter. Institutional investors own 99.02% of the company's stock.

Myriad Genetics Trading Down 3.7 %

Shares of Myriad Genetics stock traded down $0.34 on Friday, hitting $8.88. 599,366 shares of the company's stock traded hands, compared to its average volume of 877,958. The firm's 50-day moving average price is $11.76 and its two-hundred day moving average price is $16.57. 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 stock has a market capitalization of $810.82 million, a PE ratio of -6.83 and a beta of 1.79. Myriad Genetics, Inc. has a one year low of $8.70 and a one year high of $29.30.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler raised shares of 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 research note on Wednesday, March 12th. Leerink Partners cut Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $30.00 to $21.00 in a report on Monday, December 9th. The Goldman Sachs Group reduced their price objective on Myriad Genetics from $29.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Craig Hallum started coverage on Myriad Genetics in a research note on Wednesday, February 12th. They issued a "buy" rating and a $29.00 target price for the company. Finally, Stephens reiterated an "equal weight" rating and set a $20.00 price target on shares of Myriad Genetics in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $21.89.

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.