Wellington Management Group LLP Sells 711,985 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Wellington Management Group LLP lowered its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 6.58% of Myriad Genetics worth $82,323,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MYGN. D. E. Shaw & Co. Inc. raised its position in shares of Myriad Genetics by 58.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,819,814 shares of the company's stock worth $24,950,000 after purchasing an additional 668,429 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Myriad Genetics by 377.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 549,456 shares of the company's stock worth $7,533,000 after purchasing an additional 434,420 shares during the period. Artisan Partners Limited Partnership raised 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 during the period. Renaissance Technologies LLC raised its position in shares of Myriad Genetics by 87.4% during the fourth quarter. Renaissance Technologies LLC now owns 684,874 shares of the company's stock worth $9,390,000 after purchasing an additional 319,500 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Myriad Genetics by 50.2% during the fourth quarter. Fisher Asset Management LLC now owns 905,209 shares of the company's stock worth $12,410,000 after purchasing an additional 302,367 shares during the period. Institutional investors own 99.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Myriad Genetics from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Bank of America lowered their price target on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company downgraded Myriad Genetics from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $22.00 to $6.00 in a report on Wednesday, May 7th. Piper Sandler lowered their target price on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group dropped their target price on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $14.79.

Myriad Genetics Trading Up 6.4%

MYGN stock traded up $0.27 during midday trading on Monday, hitting $4.46. 2,909,845 shares of the company's stock were exchanged, compared to its average volume of 1,177,833. The company has a market cap of $411.11 million, a PE ratio of -3.43 and a beta of 2.01. The stock's fifty day moving average price is $6.48 and its 200-day moving average price is $10.82. Myriad Genetics, Inc. has a one year low of $3.81 and a one year high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90.

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