UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 43.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 285,229 shares of the company's stock after acquiring an additional 86,973 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.31% of Myriad Genetics worth $3,910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Sterling Capital Management LLC increased its position in shares of Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock valued at $39,000 after purchasing an additional 2,556 shares during the last quarter. KBC Group NV increased its holdings in Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company's stock worth $80,000 after buying an additional 3,334 shares during the last quarter. Inspire Advisors LLC raised its position in Myriad Genetics by 48.1% in the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock worth $154,000 after acquiring an additional 3,644 shares during the period. E Fund Management Co. Ltd. bought a new stake in Myriad Genetics in the fourth quarter worth about $161,000. Finally, Syon Capital LLC purchased a new position in Myriad Genetics in the fourth quarter valued at about $176,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Price Performance

Shares of MYGN stock traded up $0.17 during trading hours on Friday, reaching $5.09. The stock had a trading volume of 1,685,827 shares, compared to its average volume of 1,210,340. The stock's fifty day simple moving average is $6.24 and its 200 day simple moving average is $10.67. The firm has a market capitalization of $469.18 million, a PE ratio of -3.92 and a beta of 1.84. Myriad Genetics, Inc. has a 12 month low of $3.81 and a 12 month 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.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Guggenheim lowered shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Raymond James restated an "outperform" rating and issued a $10.00 target price (down from $19.00) on shares of Myriad Genetics in a research note on Wednesday, May 7th. Craig Hallum set a $18.00 price target on Myriad Genetics and gave the company a "buy" rating in a research report on Wednesday, May 7th. Bank of America decreased their price objective on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company downgraded shares of Myriad Genetics from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $22.00 to $6.00 in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.38.

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.