Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,803 shares of the company’s stock after acquiring an additional 3,695 shares during the period. Fifth Third Bancorp owned about 0.09% of Myriad Genetics worth $1,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in Myriad Genetics by 29.6% during the first quarter. Bank of America Corp DE now owns 3,432,969 shares of the company’s stock worth $79,748,000 after purchasing an additional 783,718 shares in the last quarter. Wellington Management Group LLP boosted its position in Myriad Genetics by 17.8% during the first quarter. Wellington Management Group LLP now owns 5,096,235 shares of the company’s stock worth $128,425,000 after purchasing an additional 770,460 shares in the last quarter. State Street Corp boosted its position in Myriad Genetics by 14.5% during the second quarter. State Street Corp now owns 4,804,157 shares of the company’s stock worth $87,292,000 after purchasing an additional 607,932 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Myriad Genetics by 125.2% during the second quarter. Nuveen Asset Management LLC now owns 496,079 shares of the company’s stock worth $11,499,000 after purchasing an additional 275,802 shares in the last quarter. Finally, Earnest Partners LLC boosted its position in Myriad Genetics by 6.7% during the third quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock worth $55,711,000 after purchasing an additional 219,503 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Guggenheim assumed coverage on Myriad Genetics in a research report on Thursday, December 14th. They issued a “buy” rating and a $23.00 target price on the stock. Wells Fargo & Company assumed coverage on Myriad Genetics in a research report on Tuesday, December 19th. They issued an “equal weight” rating and a $20.00 target price on the stock. Wolfe Research assumed coverage on Myriad Genetics in a research report on Wednesday, December 13th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Piper Sandler assumed coverage on Myriad Genetics in a research report on Thursday, December 21st. They set a “neutral” rating and a $23.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.17.

Myriad Genetics Price Performance

MYGN stock opened at $20.22 on Friday. The business has a fifty day moving average of $22.07 and a two-hundred day moving average of $19.25. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -6.32 and a beta of 1.95. Myriad Genetics, Inc. has a 52-week low of $13.82 and a 52-week high of $24.21.

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The business had revenue of $196.60 million during the quarter, compared to analysts’ expectations of $194.80 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts anticipate that Myriad Genetics, Inc. will post -0.36 earnings per share for the current 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.