MetLife Investment Management LLC Acquires 3,231 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

MetLife Investment Management LLC lifted its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,931 shares of the company’s stock after purchasing an additional 3,231 shares during the quarter. MetLife Investment Management LLC’s holdings in Myriad Genetics were worth $753,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in Myriad Genetics by 829.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,864 shares of the company’s stock worth $39,000 after buying an additional 2,556 shares in the last quarter. KBC Group NV raised its holdings in Myriad Genetics by 132.8% during the fourth quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after acquiring an additional 3,334 shares in the last quarter. Inspire Advisors LLC boosted its position in Myriad Genetics by 48.1% during the fourth quarter. Inspire Advisors LLC now owns 11,226 shares of the company’s stock valued at $154,000 after purchasing an additional 3,644 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Myriad Genetics in the fourth quarter valued at approximately $161,000. Finally, Entropy Technologies LP acquired a new position in shares of Myriad Genetics during the 4th quarter worth approximately $178,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MYGN. Piper Sandler raised Myriad Genetics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $11.50 to $12.50 in a report on Wednesday, March 12th. Scotiabank decreased their price objective on shares of Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating for the company in a research report on Tuesday, April 1st. Raymond James reaffirmed an “outperform” rating and issued a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. UBS Group lowered their price target on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their target price on Myriad Genetics from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.61.

Myriad Genetics Trading Up 6.0 %

MYGN stock opened at $7.56 on Friday. Myriad Genetics, Inc. has a 52 week low of $6.94 and a 52 week 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. The company’s 50-day simple moving average is $8.89 and its 200 day simple moving average is $13.10. The company has a market capitalization of $696.81 million, a PE ratio of -5.82 and a beta of 1.87.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). The business had revenue of $210.60 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted ($0.12) earnings per share. As a group, sell-side analysts anticipate that Myriad Genetics, Inc. will post -0.3 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.