Beverly Hills Private Wealth LLC Sells 2,086 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Beverly Hills Private Wealth LLC cut its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 10.6% during the 4th quarter, Holdings Channel reports. The firm owned 17,601 shares of the company’s stock after selling 2,086 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Myriad Genetics were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Myriad Genetics by 96.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,101 shares of the company’s stock worth $34,000 after purchasing an additional 1,032 shares in the last quarter. Royal Bank of Canada lifted its position in Myriad Genetics by 29.0% during the third quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock worth $44,000 after purchasing an additional 526 shares during the period. Natixis acquired a new stake in Myriad Genetics during the fourth quarter worth about $44,000. Point72 Hong Kong Ltd grew its stake in Myriad Genetics by 722.8% during the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the company’s stock worth $58,000 after buying an additional 2,826 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Myriad Genetics by 99.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,654 shares of the company’s stock worth $62,000 after acquiring an additional 1,326 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Myriad Genetics Stock Down 1.9 %

MYGN opened at $19.17 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $24.21. The company’s 50 day moving average price is $21.82 and its two-hundred day moving average price is $19.45.

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, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $194.80 million. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. Myriad Genetics’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. As a group, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

MYGN has been the topic of several research analyst reports. Piper Sandler started coverage on Myriad Genetics in a research note on Thursday, December 21st. They issued a “neutral” rating and a $23.00 price objective on the stock. The Goldman Sachs Group lifted their price target on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company began coverage on shares of Myriad Genetics in a research note on Tuesday, December 19th. They issued an “equal weight” rating and a $20.00 price objective for the company. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.17.

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.