Wellington Management Group LLP Has $82.32 Million Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Wellington Management Group LLP decreased its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 10.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,004,598 shares of the company’s stock after selling 711,985 shares during the period. Wellington Management Group LLP owned about 0.07% of Myriad Genetics worth $82,323,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN raised its position in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after acquiring an additional 440,107 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Myriad Genetics by 377.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company’s stock valued at $7,533,000 after purchasing an additional 434,420 shares in the last quarter. State Street Corp raised its holdings in Myriad Genetics by 8.3% in the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock worth $128,827,000 after purchasing an additional 359,685 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Myriad Genetics by 13.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,766,729 shares of the company’s stock worth $37,932,000 after purchasing an additional 336,770 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Myriad Genetics by 50.2% in the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company’s stock valued at $12,410,000 after buying an additional 302,367 shares during the period. Institutional investors and hedge funds own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MYGN. Craig Hallum began coverage on Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective on the stock. The Goldman Sachs Group dropped their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Leerink Partnrs cut Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Stephens restated an “equal weight” rating and set a $20.00 target price on shares of Myriad Genetics in a report on Thursday, January 16th. Finally, StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a report on Wednesday. Three equities research 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 MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and a consensus price target of $20.89.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $8.13 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The business has a 50-day moving average of $11.36 and a 200-day moving average of $15.93. The stock has a market capitalization of $742.34 million, a price-to-earnings ratio of -6.25 and a beta of 1.79. Myriad Genetics, Inc. has a fifty-two week low of $7.88 and a fifty-two week high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results 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 company had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, sell-side analysts predict that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

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.