Victory Capital Management Inc. Has $841,000 Stock Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Victory Capital Management Inc. lifted its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 6.4% during the 4th quarter, HoldingsChannel reports. The fund owned 61,341 shares of the company’s stock after buying an additional 3,711 shares during the period. Victory Capital Management Inc.’s holdings in Myriad Genetics were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in 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 worth $15,431,000 after buying an additional 42,233 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Myriad Genetics by 50.2% during the fourth quarter. Fisher Asset Management LLC now owns 905,209 shares of the company’s stock worth $12,410,000 after buying an additional 302,367 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Myriad Genetics by 7.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 54,323 shares of the company’s stock worth $745,000 after buying an additional 3,706 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Myriad Genetics by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company’s stock worth $8,857,000 after buying an additional 2,256 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Myriad Genetics by 36.7% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 52,667 shares of the company’s stock worth $722,000 after buying an additional 14,134 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Myriad Genetics stock opened at $9.91 on Friday. The stock has a 50-day simple moving average of $12.23 and a 200 day simple moving average of $17.30. 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, Inc. has a 12-month low of $9.36 and a 12-month high of $29.30. The stock has a market capitalization of $904.87 million, a price-to-earnings ratio of -7.62 and a beta of 1.79.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $210.35 million. During the same period in the prior year, the firm earned ($0.12) earnings per share. On average, research analysts anticipate that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MYGN. StockNews.com downgraded shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Leerink Partners downgraded shares of Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Piper Sandler upgraded shares of 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 note on Wednesday, March 12th. The Goldman Sachs Group decreased their price target on shares of Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.89.

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.