Vanguard Group Inc. Increases Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Vanguard Group Inc. lifted its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,591,043 shares of the company’s stock after purchasing an additional 279,379 shares during the period. Vanguard Group Inc. owned 0.12% of Myriad Genetics worth $145,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. KBC Group NV boosted its position in Myriad Genetics by 132.8% in the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after purchasing an additional 3,334 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of Myriad Genetics by 48.1% in the 4th quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock worth $154,000 after purchasing an additional 3,644 shares during the period. E Fund Management Co. Ltd. purchased a new position in shares of Myriad Genetics in the fourth quarter worth approximately $161,000. Entropy Technologies LP bought a new stake in Myriad Genetics during the fourth quarter valued at approximately $178,000. Finally, Blue Trust Inc. grew its position in Myriad Genetics by 14.1% during the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock valued at $198,000 after buying an additional 1,788 shares during the period. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of NASDAQ MYGN opened at $8.07 on Tuesday. The company has a market cap of $736.86 million, a P/E ratio of -6.21 and a beta of 1.87. Myriad Genetics, Inc. has a 52-week low of $7.81 and a 52-week high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. The firm’s fifty day moving average is $11.26 and its two-hundred day moving average is $15.61.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $210.60 million during the quarter, compared to analysts’ expectations of $210.35 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. As a group, analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Craig Hallum assumed coverage on Myriad Genetics in a report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target for the company. Stephens restated an “equal weight” rating and issued a $20.00 price target on shares of Myriad Genetics in a research report on Thursday, January 16th. Leerink Partners cut Myriad Genetics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $21.00 in a research report on Monday, December 9th. Finally, Raymond James reissued an “outperform” rating and issued a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.89.

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.