Federated Hermes Inc. Acquires 846 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Federated Hermes Inc. grew its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,807 shares of the company’s stock after buying an additional 846 shares during the period. Federated Hermes Inc. owned 0.06% of Myriad Genetics worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its stake in Myriad Genetics by 75.3% during the second quarter. Hexagon Capital Partners LLC now owns 1,143 shares of the company’s stock valued at $28,000 after acquiring an additional 491 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Myriad Genetics by 9.0% in the first quarter. Ameritas Investment Partners Inc. now owns 8,747 shares of the company’s stock worth $186,000 after purchasing an additional 720 shares during the last quarter. Arizona State Retirement System boosted its stake in Myriad Genetics by 3.4% during the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after buying an additional 829 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Myriad Genetics by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 77,485 shares of the company’s stock valued at $1,652,000 after buying an additional 889 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Myriad Genetics by 1.4% during the 2nd quarter. Fifth Third Bancorp now owns 81,754 shares of the company’s stock worth $2,000,000 after acquiring an additional 1,139 shares in the last quarter. Hedge funds and other institutional investors own 99.02% of the company’s stock.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $27.64 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $27.47 and its two-hundred day moving average is $24.07. Myriad Genetics, Inc. has a 52 week low of $13.82 and a 52 week high of $29.30. The company has a market capitalization of $2.50 billion, a PE ratio of -9.80 and a beta of 1.92.

Myriad Genetics (NASDAQ:MYGN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. During the same quarter last year, the firm posted ($0.21) EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, analysts expect that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MYGN shares. TD Cowen raised their target price on shares of Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group restated an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Myriad Genetics in a report on Monday, June 3rd. Morgan Stanley began coverage on shares of Myriad Genetics in a report on Thursday. They issued an “equal weight” rating and a $32.00 price target for the company. Piper Sandler boosted their price objective on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.91.

Insider Activity at Myriad Genetics

In other Myriad Genetics news, Director Colleen F. Reitan sold 46,012 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the sale, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Heinrich Dreismann sold 10,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $27.05, for a total value of $270,500.00. Following the completion of the sale, the director now owns 121,648 shares in the company, valued at approximately $3,290,578.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the transaction, the director now owns 42,533 shares in the company, valued at $1,188,797.35. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

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.