Dimensional Fund Advisors LP Sells 151,122 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Dimensional Fund Advisors LP cut its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,272,355 shares of the company's stock after selling 151,122 shares during the quarter. Dimensional Fund Advisors LP owned 2.50% of Myriad Genetics worth $31,154,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company's stock worth $39,000 after acquiring an additional 2,556 shares during the period. KBC Group NV lifted its holdings in shares of Myriad Genetics by 132.8% during the 4th quarter. KBC Group NV now owns 5,845 shares of the company's stock valued at $80,000 after buying an additional 3,334 shares during the last quarter. Inspire Advisors LLC lifted its holdings in shares of Myriad Genetics by 48.1% during the 4th quarter. Inspire Advisors LLC now owns 11,226 shares of the company's stock valued at $154,000 after buying an additional 3,644 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Myriad Genetics during the 4th quarter valued at about $161,000. Finally, Entropy Technologies LP acquired a new stake in shares of Myriad Genetics during the 4th quarter valued at about $178,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MYGN has been the topic of a number of recent analyst reports. Bank of America cut their price objective on Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating on the stock in a research note on Monday, March 3rd. Scotiabank dropped their price target on 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. Piper Sandler raised Myriad Genetics from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $11.50 to $12.50 in a research report on Wednesday, March 12th. Wells Fargo & Company downgraded Myriad Genetics from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $22.00 to $6.00 in a research report on Wednesday. Finally, Raymond James reaffirmed an "outperform" rating and issued a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday. 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's stock. Based on data from MarketBeat.com, Myriad Genetics presently has an average rating of "Hold" and a consensus target price of $16.04.

Myriad Genetics Stock Down 3.5%

Shares of NASDAQ MYGN traded down $0.14 during trading hours on Friday, hitting $3.89. The company had a trading volume of 3,860,751 shares, compared to its average volume of 1,072,173. The firm's 50 day moving average is $8.35 and its 200-day moving average is $12.44. Myriad Genetics, Inc. has a 1-year low of $3.86 and a 1-year high of $29.30. The stock has a market capitalization of $358.57 million, a P/E ratio of -2.99 and a beta of 2.01. The company has a quick ratio of 1.73, a current ratio of 1.90 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 for the quarter, topping analysts' consensus estimates 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 company had revenue of $195.90 million during the quarter, compared to the consensus estimate of $200.37 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The company's revenue was down 33.6% on a year-over-year basis. On average, analysts expect that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Myriad Genetics 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.