Beverly Hills Private Wealth LLC Cuts Stock Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Beverly Hills Private Wealth LLC lowered its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,601 shares of the company’s stock after selling 2,086 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Myriad Genetics were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MYGN. BlackRock Inc. raised its holdings in Myriad Genetics by 0.8% in the 1st quarter. BlackRock Inc. now owns 14,797,829 shares of the company’s stock valued at $372,906,000 after acquiring an additional 113,042 shares during the last quarter. Vanguard Group Inc. lifted its position in Myriad Genetics by 1.4% during the third quarter. Vanguard Group Inc. now owns 9,128,384 shares of the company’s stock worth $174,170,000 after buying an additional 121,704 shares in the last quarter. Wellington Management Group LLP lifted its position in Myriad Genetics by 4.4% during the third quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company’s stock worth $96,180,000 after buying an additional 251,426 shares in the last quarter. State Street Corp boosted its stake in Myriad Genetics by 14.5% during the second quarter. State Street Corp now owns 4,804,157 shares of the company’s stock worth $87,292,000 after buying an additional 607,932 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in Myriad Genetics by 6.7% in the 3rd quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock valued at $55,711,000 after buying an additional 219,503 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MYGN shares. Wells Fargo & Company assumed coverage on shares of Myriad Genetics in a research report on Tuesday, December 19th. They set an “equal weight” rating and a $20.00 price target on the stock. Piper Sandler assumed coverage on Myriad Genetics in a research report on Thursday, December 21st. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Myriad Genetics from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.17.

Myriad Genetics Trading Down 1.9 %

Myriad Genetics stock opened at $19.17 on Tuesday. Myriad Genetics, Inc. has a 12-month low of $13.82 and a 12-month high of $24.21. The firm’s fifty day moving average price is $21.82 and its 200 day moving average price is $19.45. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company had revenue of $196.60 million for the quarter, compared to the consensus estimate of $194.80 million. During the same quarter last year, the business posted ($0.20) EPS. Myriad Genetics’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Myriad Genetics, Inc. will post -0.36 earnings per share for the current fiscal year.

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.