First Trust Advisors LP Sells 46,831 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

First Trust Advisors LP lessened its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,545 shares of the company's stock after selling 46,831 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of Myriad Genetics worth $1,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sterling Capital Management LLC lifted its holdings in shares of Myriad Genetics by 829.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after buying an additional 2,556 shares during the last quarter. KBC Group NV raised its position in shares of 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 purchasing an additional 3,334 shares during the period. Inspire Advisors LLC raised its position in shares of Myriad Genetics by 48.1% during the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock worth $154,000 after purchasing an additional 3,644 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of Myriad Genetics during the fourth quarter worth about $161,000. Finally, Entropy Technologies LP acquired a new stake in Myriad Genetics in the 4th quarter valued at approximately $178,000. Hedge funds and other institutional investors own 99.02% of the company's stock.

Myriad Genetics Price Performance

Myriad Genetics stock traded down $0.14 during midday trading on Friday, hitting $3.89. 3,860,751 shares of the company's stock were exchanged, compared to its average volume of 1,072,173. Myriad Genetics, Inc. has a 52-week low of $3.86 and a 52-week high of $29.30. The stock has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $12.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.73 and a current ratio of 1.90. 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 posted 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. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $195.90 million during the quarter, compared to analysts' expectations of $200.37 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The firm's revenue was down 33.6% on a year-over-year basis. On average, equities research analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com lowered Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday. The Goldman Sachs Group cut their target price on Myriad Genetics from $14.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group cut their target price on Myriad Genetics from $16.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday. Piper Sandler raised Myriad Genetics from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $11.50 to $12.50 in a report on Wednesday, March 12th. Finally, 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. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $16.04.

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.