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

Northern Trust Corp grew its position in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,032,132 shares of the company's stock after acquiring an additional 64,923 shares during the quarter. Northern Trust Corp owned about 1.13% of Myriad Genetics worth $14,151,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James restated an "outperform" rating and set a $10.00 price target (down from $19.00) on shares of Myriad Genetics in a research report on Wednesday, May 7th. StockNews.com lowered Myriad Genetics from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler lowered their price target on Myriad Genetics from $12.50 to $9.00 and set an "overweight" rating for the company in a research report on Thursday. Guggenheim lowered Myriad Genetics from a "buy" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered Myriad Genetics from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $22.00 to $6.00 in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.79.

Myriad Genetics Stock Performance

Shares of MYGN traded up $0.30 during midday trading on Monday, reaching $4.43. 2,356,579 shares of the stock were exchanged, compared to its average volume of 1,116,915. The company has a market capitalization of $408.34 million, a price-to-earnings ratio of -3.41 and a beta of 2.01. Myriad Genetics, Inc. has a twelve month low of $3.81 and a twelve month high of $29.30. The business's 50-day moving average price is $7.74 and its 200 day moving average price is $11.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $195.90 million for 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 firm's revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. On average, sell-side analysts expect that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

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.