Sei Investments Co. Grows Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Sei Investments Co. lifted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 7.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,526,761 shares of the company’s stock after purchasing an additional 174,770 shares during the period. Sei Investments Co.’s holdings in Myriad Genetics were worth $34,642,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of 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 in the last quarter. Jennison Associates LLC increased its holdings in Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock worth $809,000 after acquiring an additional 34,853 shares in the last quarter. Victory Capital Management Inc. raised its position in Myriad Genetics by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock worth $841,000 after acquiring an additional 3,711 shares during the period. Barclays PLC lifted its holdings in Myriad Genetics by 136.9% during the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock valued at $5,210,000 after purchasing an additional 109,931 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of 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 period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MYGN. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th. Craig Hallum started coverage on Myriad Genetics in a research report on Wednesday, February 12th. They issued a “buy” rating and a $29.00 target price on the stock. Raymond James reiterated an “outperform” rating and set a $19.00 price target (down from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. StockNews.com lowered Myriad Genetics from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, Bank of America reduced their target price on shares of Myriad Genetics from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Myriad Genetics presently has an average rating of “Hold” and an average price target of $21.89.

Myriad Genetics Stock Performance

NASDAQ:MYGN opened at $9.98 on Tuesday. The company’s 50-day moving average is $12.05 and its two-hundred day moving average is $16.92. The firm has a market capitalization of $911.26 million, a price-to-earnings ratio of -7.68 and a beta of 1.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. Myriad Genetics, Inc. has a 1-year low of $9.36 and a 1-year high of $29.30.

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 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 during the quarter, compared to analysts’ expectations of $210.35 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Analysts forecast that Myriad Genetics, Inc. will post -0.3 EPS 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.