Thrivent Financial for Lutherans Decreases Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Thrivent Financial for Lutherans lowered its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,362 shares of the company’s stock after selling 11,854 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Myriad Genetics were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of Myriad Genetics by 117.0% in the 4th quarter. Nordea Investment Management AB now owns 332,913 shares of the company’s stock valued at $4,548,000 after purchasing an additional 179,527 shares during the last quarter. Jennison Associates LLC raised its position in Myriad Genetics by 144.2% in the 4th quarter. Jennison Associates LLC now owns 59,015 shares of the company’s stock worth $809,000 after purchasing an additional 34,853 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Myriad Genetics by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 61,341 shares of the company’s stock worth $841,000 after acquiring an additional 3,711 shares during the last quarter. Barclays PLC increased its stake in Myriad Genetics by 136.9% in the third quarter. Barclays PLC now owns 190,243 shares of the company’s stock worth $5,210,000 after purchasing an additional 109,931 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Myriad Genetics by 26.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after buying an additional 224,255 shares in the last quarter. 99.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MYGN. Raymond James reaffirmed an “outperform” rating and issued a $19.00 price target (down previously from $27.00) on shares of Myriad Genetics in a research report on Tuesday, February 25th. Craig Hallum began coverage on Myriad Genetics in a report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price objective for the company. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $21.00 in a research note on Monday, December 9th. UBS Group dropped their price target on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Piper Sandler raised shares of Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $11.50 to $12.50 in a report on Wednesday, March 12th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.89.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $8.88 on Monday. The firm’s 50-day moving average is $11.76 and its two-hundred day moving average is $16.43. The company has a market capitalization of $810.82 million, a PE ratio of -6.83 and a beta of 1.79. 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, Inc. has a 12 month low of $8.70 and a 12 month high of $29.30.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share 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 analyst estimates of $210.35 million. Myriad Genetics had a negative net margin of 14.09% and a negative return on equity of 4.51%. During the same quarter last year, the business posted ($0.12) EPS. Analysts predict that Myriad Genetics, Inc. will post -0.3 earnings per share for the current 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.