Artisan Partners Limited Partnership Buys 336,770 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Artisan Partners Limited Partnership raised its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 13.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,766,729 shares of the company’s stock after buying an additional 336,770 shares during the period. Artisan Partners Limited Partnership owned about 3.04% of Myriad Genetics worth $37,932,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in Myriad Genetics by 117.0% in the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after buying an additional 179,527 shares during the period. Jennison Associates LLC lifted its stake in shares of Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock valued at $809,000 after purchasing an additional 34,853 shares during the period. Victory Capital Management Inc. boosted its position in shares of Myriad Genetics by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock worth $841,000 after purchasing an additional 3,711 shares during the last quarter. Barclays PLC boosted its position in shares of Myriad Genetics by 136.9% in the 3rd quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Myriad Genetics by 26.7% in the third quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after purchasing an additional 224,255 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Trading Down 3.7 %

NASDAQ:MYGN opened at $8.88 on Friday. The company has a market cap of $810.82 million, a P/E ratio of -6.83 and a beta of 1.79. Myriad Genetics, Inc. has a twelve month low of $8.70 and a twelve month high of $29.30. The business has a 50 day moving average price of $11.76 and a two-hundred day moving average price of $16.57. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business 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 company posted ($0.12) EPS. As a group, analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MYGN has been the subject of several analyst reports. Craig Hallum assumed coverage on Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 target price for the company. UBS Group cut their target price on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com raised Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Piper Sandler raised Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.89.

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.