Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,500 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Louisiana State Employees Retirement System owned about 0.05% of Myriad Genetics worth $1,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MYGN. Glenview Capital Management LLC grew its holdings in Myriad Genetics by 39.6% in the fourth quarter. Glenview Capital Management LLC now owns 5,283,982 shares of the company’s stock valued at $101,135,000 after purchasing an additional 1,500,000 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Myriad Genetics in the first quarter valued at approximately $467,000. Natixis Advisors L.P. grew its holdings in Myriad Genetics by 44.3% in the fourth quarter. Natixis Advisors L.P. now owns 190,278 shares of the company’s stock valued at $3,641,000 after purchasing an additional 58,449 shares during the period. AMH Equity Ltd acquired a new stake in Myriad Genetics in the first quarter valued at approximately $2,345,000. Finally, Wellington Management Group LLP grew its holdings in Myriad Genetics by 20.4% in the fourth quarter. Wellington Management Group LLP now owns 7,219,706 shares of the company’s stock valued at $138,185,000 after purchasing an additional 1,223,446 shares during the period. 99.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Myriad Genetics

In other Myriad Genetics news, Director Daniel K. Spiegelman sold 3,788 shares of Myriad Genetics stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $22.04, for a total value of $83,487.52. Following the sale, the director now owns 36,705 shares in the company, valued at $808,978.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Performance

Shares of Myriad Genetics stock opened at $27.50 on Wednesday. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $28.90. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -9.75 and a beta of 1.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.99. The business’s 50 day moving average price is $26.50 and its 200 day moving average price is $23.52.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 6.77% and a negative net margin of 30.30%. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $206.44 million. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, research analysts predict that Myriad Genetics, Inc. will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wells Fargo & Company assumed coverage on Myriad Genetics in a report on Tuesday. They issued an “overweight” rating and a $35.00 price objective on the stock. Leerink Partnrs raised Myriad Genetics from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Scotiabank lifted their price target on Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and issued a $20.00 price target (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.60.

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.