D. E. Shaw & Co. Inc. Purchases 668,429 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

D. E. Shaw & Co. Inc. lifted its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 58.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,819,814 shares of the company's stock after acquiring an additional 668,429 shares during the period. D. E. Shaw & Co. Inc. owned approximately 2.00% of Myriad Genetics worth $24,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Myriad Genetics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company's stock worth $145,203,000 after acquiring an additional 279,379 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Myriad Genetics by 0.4% during the 4th quarter. Earnest Partners LLC now owns 3,971,598 shares of the company's stock valued at $54,451,000 after purchasing an additional 15,650 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Myriad Genetics by 13.9% during the 4th 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. Sei Investments Co. lifted its stake in Myriad Genetics by 7.4% in the 4th quarter. Sei Investments Co. now owns 2,526,761 shares of the company's stock valued at $34,642,000 after purchasing an additional 174,770 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Myriad Genetics by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,125,535 shares of the company's stock valued at $15,431,000 after purchasing an additional 42,233 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company's stock.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $3.89 on Monday. The business has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $12.44. Myriad Genetics, Inc. has a 1-year low of $3.86 and a 1-year high of $29.30. 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 $358.57 million, a P/E ratio of -2.99 and a beta of 2.01.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $195.90 million during the quarter, compared to analysts' expectations of $200.37 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The firm's revenue was down 33.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. As a group, analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MYGN shares. Wolfe Research downgraded shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a report on Thursday. Wells Fargo & Company cut Myriad Genetics from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $22.00 to $6.00 in a report on Wednesday, May 7th. StockNews.com lowered Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Thursday. Stephens restated an "equal weight" rating and set a $20.00 price target on shares of Myriad Genetics in a report on Thursday, January 16th. Finally, Scotiabank cut their target price on shares of Myriad Genetics from $24.00 to $20.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.04.

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.

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