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

Louisiana State Employees Retirement System lowered its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,900 shares of the company’s stock after selling 1,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Myriad Genetics were worth $1,202,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. UniSuper Management Pty Ltd purchased a new stake in Myriad Genetics during the first quarter valued at about $467,000. AMH Equity Ltd acquired a new position in Myriad Genetics during the first quarter valued at approximately $2,345,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Myriad Genetics by 80.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 334,717 shares of the company’s stock valued at $7,620,000 after buying an additional 149,234 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Myriad Genetics during the second quarter worth approximately $1,123,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Myriad Genetics by 26.7% in the second quarter. Assenagon Asset Management S.A. now owns 250,524 shares of the company’s stock worth $6,128,000 after acquiring an additional 52,813 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Price Performance

Shares of MYGN stock opened at $17.99 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. Myriad Genetics, Inc. has a 1-year low of $15.78 and a 1-year high of $29.30. The firm has a fifty day moving average of $25.57 and a two-hundred day moving average of $24.72. The firm has a market cap of $1.63 billion, a P/E ratio of -9.94 and a beta of 1.93.

Myriad Genetics (NASDAQ:MYGN) last released its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Myriad Genetics had a negative return on equity of 5.64% and a negative net margin of 19.35%. 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 business posted ($0.21) EPS. Myriad Genetics’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that Myriad Genetics, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen upped their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company started coverage on Myriad Genetics in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price for the company. Piper Sandler boosted their price target on Myriad Genetics from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, Scotiabank lifted their price objective on shares of Myriad Genetics from $29.00 to $34.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and a consensus target price of $28.91.

Insider Transactions at Myriad Genetics

In other news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Heinrich Dreismann sold 10,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now directly owns 121,648 shares in the company, valued at approximately $3,290,578.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul J. Diaz sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the transaction, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is currently owned by 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.