Northern Trust Corp Raises Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Northern Trust Corp boosted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,032,132 shares of the company's stock after buying an additional 64,923 shares during the period. Northern Trust Corp owned 1.13% of Myriad Genetics worth $14,151,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MYGN. Jennison Associates LLC grew its position in Myriad Genetics by 144.2% in the fourth quarter. Jennison Associates LLC now owns 59,015 shares of the company's stock worth $809,000 after acquiring an additional 34,853 shares in the last quarter. Barclays PLC grew its holdings in Myriad Genetics by 7.3% in the fourth quarter. Barclays PLC now owns 204,051 shares of the company's stock worth $2,797,000 after purchasing an additional 13,808 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Myriad Genetics by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 61,341 shares of the company's stock valued at $841,000 after buying an additional 3,711 shares during the last quarter. Vanguard Group Inc. lifted its position in Myriad Genetics by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company's stock valued at $145,203,000 after purchasing an additional 279,379 shares during the period. Finally, Invesco Ltd. lifted its position in Myriad Genetics by 37.9% during the fourth quarter. Invesco Ltd. now owns 769,284 shares of the company's stock valued at $10,547,000 after purchasing an additional 211,503 shares during the period. Hedge funds and other institutional investors own 99.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MYGN shares. Wolfe Research downgraded shares of Myriad Genetics from an "outperform" rating to a "peer perform" rating in a research report on Thursday, May 8th. Bank of America dropped their price target on shares of Myriad Genetics from $13.00 to $11.00 and set an "underperform" rating for the company in a research note on Monday, March 3rd. Raymond James reaffirmed an "outperform" rating and set a $10.00 price objective (down previously from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. Scotiabank lowered shares of Myriad Genetics from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $20.00 to $6.00 in a report on Wednesday. Finally, Guggenheim lowered shares of Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.79.

Myriad Genetics Price Performance

MYGN traded down $0.17 during trading on Wednesday, reaching $4.28. 109,327 shares of the company were exchanged, compared to its average volume of 1,117,495. The company's 50-day moving average is $7.52 and its two-hundred day moving average is $11.66. Myriad Genetics, Inc. has a 12-month low of $3.81 and a 12-month high of $29.30. The company has a market cap of $394.52 million, a price-to-earnings ratio of -3.28 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 released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.03) earnings per share 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 business's revenue was down 33.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. Research analysts forecast 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.