Myriad Genetics, Inc. (NASDAQ:MYGN) Stake Boosted by Sei Investments Co.

Sei Investments Co. grew its stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company's stock worth $128,827,000 after acquiring an additional 359,685 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position 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 purchasing an additional 440,107 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company's stock worth $59,973,000 after buying an additional 1,326,497 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Myriad Genetics by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,154,035 shares of the company's stock valued at $59,010,000 after acquiring an additional 21,220 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Myriad Genetics by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,125,535 shares of the company's stock valued at $15,431,000 after acquiring an additional 42,233 shares in the last quarter. 99.02% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages have issued reports on MYGN. Bank of America lowered their target price on shares of Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research note on Monday, March 3rd. Leerink Partners cut shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Raymond James reiterated an "outperform" rating and issued a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. UBS Group lowered their target price on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, Leerink Partnrs cut Myriad Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.89.

Myriad Genetics Stock Performance

Shares of MYGN stock traded down $0.25 during mid-day trading on Tuesday, hitting $9.73. The stock had a trading volume of 583,015 shares, compared to its average volume of 853,376. Myriad Genetics, Inc. has a fifty-two week low of $9.36 and a fifty-two week 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 company's 50-day simple moving average is $11.97 and its 200-day simple moving average is $16.80. The firm has a market cap of $888.44 million, a PE ratio of -7.48 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last posted its quarterly earnings results 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). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The company had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current 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.