Wells Fargo & Company MN Buys 87,659 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Wells Fargo & Company MN raised its position in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) by 69.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,127 shares of the company's stock after buying an additional 87,659 shares during the period. Wells Fargo & Company MN owned approximately 0.24% of Myriad Genetics worth $2,936,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Myriad Genetics by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 10,591,043 shares of the company's stock worth $145,203,000 after purchasing an additional 279,379 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings 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 valued at $37,932,000 after buying an additional 336,770 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Myriad Genetics by 7.4% during the fourth quarter. Sei Investments Co. now owns 2,526,761 shares of the company's stock valued at $34,642,000 after buying an additional 174,770 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Myriad Genetics by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,125,535 shares of the company's stock valued at $15,431,000 after acquiring an additional 42,233 shares during the period. Finally, Fisher Asset Management LLC increased its stake 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 valued at $12,410,000 after acquiring an additional 302,367 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Craig Hallum initiated coverage on shares of Myriad Genetics in a research report on Wednesday, February 12th. They issued a "buy" rating and a $29.00 price target on the stock. Bank of America lowered their target price 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. StockNews.com upgraded Myriad Genetics from a "hold" rating to a "buy" rating in a research note on Thursday, April 10th. UBS Group decreased their price target on Myriad Genetics from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Guggenheim downgraded Myriad Genetics from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Myriad Genetics presently has an average rating of "Hold" and an average price target of $20.61.

Myriad Genetics Price Performance

Myriad Genetics stock traded down $0.30 on Tuesday, reaching $7.20. The company's stock had a trading volume of 1,625,169 shares, compared to its average volume of 951,733. The business's fifty day moving average price is $9.24 and its 200 day moving average price is $13.46. The company has a market cap of $663.63 million, a price-to-earnings ratio of -5.54 and a beta of 1.87. 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, Inc. has a twelve month low of $7.16 and a twelve month high of $29.30.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). The company had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. During the same quarter last year, the company earned ($0.12) EPS. Equities analysts expect 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.