Inspire Advisors LLC Boosts Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Inspire Advisors LLC grew its position in Myriad Genetics, Inc. (NASDAQ:MYGN) by 48.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,226 shares of the company’s stock after buying an additional 3,644 shares during the quarter. Inspire Advisors LLC’s holdings in Myriad Genetics were worth $154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MYGN. Loomis Sayles & Co. L P lifted its stake in Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock valued at $59,973,000 after buying an additional 1,326,497 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Myriad Genetics by 21.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock worth $69,226,000 after acquiring an additional 440,107 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Myriad Genetics in the third quarter valued at $11,007,000. State Street Corp boosted its stake in shares of Myriad Genetics by 8.3% during the third quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after acquiring an additional 359,685 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Myriad Genetics by 50.2% during the 4th quarter. Fisher Asset Management LLC now owns 905,209 shares of the company’s stock worth $12,410,000 after purchasing an additional 302,367 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Stock Down 6.8 %

Shares of NASDAQ:MYGN opened at $9.70 on Friday. The stock has a 50-day simple moving average of $12.74 and a 200-day simple moving average of $17.99. The stock has a market capitalization of $885.70 million, a P/E ratio of -7.46 and a beta of 1.79. Myriad Genetics, Inc. has a 1 year low of $9.36 and a 1 year high of $29.30. 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 (NASDAQ:MYGN) last released its quarterly earnings data 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). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $210.35 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Equities analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

MYGN has been the topic of a number of recent research reports. UBS Group reduced their target price on shares of Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. StockNews.com cut shares of Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Thursday. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Morgan Stanley decreased their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and a consensus price target 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.