Pictet Asset Management Holding SA Cuts Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Pictet Asset Management Holding SA lessened its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 479,808 shares of the company’s stock after selling 36,262 shares during the period. Pictet Asset Management Holding SA owned about 0.53% of Myriad Genetics worth $6,578,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Myriad Genetics by 43.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock worth $132,000 after purchasing an additional 1,471 shares during the period. Blue Trust Inc. raised its stake in shares of Myriad Genetics by 14.1% in the fourth quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock valued at $198,000 after buying an additional 1,788 shares during the period. Swiss National Bank lifted its position in shares of Myriad Genetics by 1.0% during the 4th quarter. Swiss National Bank now owns 178,600 shares of the company’s stock valued at $2,449,000 after buying an additional 1,800 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Myriad Genetics by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company’s stock worth $8,857,000 after acquiring an additional 2,256 shares during the period. Finally, KBC Group NV increased its holdings in Myriad Genetics by 132.8% in the 4th quarter. KBC Group NV now owns 5,845 shares of the company’s stock worth $80,000 after acquiring an additional 3,334 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MYGN shares. Craig Hallum began coverage on shares of Myriad Genetics in a research note on Wednesday, February 12th. They issued a “buy” rating and a $29.00 target price for the company. Leerink Partnrs lowered shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Scotiabank dropped their target price on Myriad Genetics from $24.00 to $20.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. The Goldman Sachs Group reduced their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Raymond James reissued an “outperform” rating and set a $19.00 price objective (down previously from $27.00) on shares of Myriad Genetics in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Myriad Genetics presently has an average rating of “Hold” and a consensus target price of $20.89.

Myriad Genetics Trading Down 4.4 %

Shares of Myriad Genetics stock opened at $8.41 on Friday. The company has a 50 day simple moving average of $11.46 and a two-hundred day simple moving average of $16.07. The firm has a market cap of $767.91 million, a PE ratio of -6.47 and a beta of 1.79. Myriad Genetics, Inc. has a 1 year low of $8.11 and a 1 year high of $29.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73.

Myriad Genetics (NASDAQ:MYGN) last announced its earnings results 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). The company had revenue of $210.60 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted ($0.12) earnings per share. Analysts expect that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal year.

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.