Federated Hermes Inc. Sells 47,999 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Federated Hermes Inc. lowered its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 84.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,600 shares of the company’s stock after selling 47,999 shares during the period. Federated Hermes Inc.’s holdings in Myriad Genetics were worth $118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jane Street Group LLC increased its holdings in Myriad Genetics by 19.4% in the third quarter. Jane Street Group LLC now owns 121,181 shares of the company’s stock valued at $3,319,000 after purchasing an additional 19,684 shares during the period. Barclays PLC lifted its holdings 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 in the last quarter. Geode Capital Management LLC grew 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 buying an additional 21,220 shares during the last quarter. Franklin Resources Inc. increased its holdings in Myriad Genetics by 8.8% during the 3rd quarter. Franklin Resources Inc. now owns 58,055 shares of the company’s stock worth $1,457,000 after purchasing an additional 4,710 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Myriad Genetics by 117.0% during the fourth quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock worth $4,548,000 after buying an additional 179,527 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of NASDAQ:MYGN opened at $7.64 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a market cap of $704.19 million, a price-to-earnings ratio of -5.88 and a beta of 1.87. Myriad Genetics, Inc. has a 12 month low of $7.35 and a 12 month high of $29.30. The company has a 50-day moving average price of $10.24 and a 200-day moving average price of $14.41.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The business had revenue of $210.60 million during 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 prior year, the business posted ($0.12) earnings per share. As a group, equities analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on MYGN shares. StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Thursday, April 10th. Bank of America lowered their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Monday, March 3rd. Raymond James reissued an “outperform” rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. The Goldman Sachs Group cut their price target on shares of Myriad Genetics from $18.00 to $14.00 and set a “buy” rating for the company in a report on Thursday. Finally, Guggenheim lowered Myriad Genetics from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.61.

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.