Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Holdings in Myriad Genetics, Inc. (NASDAQ:MYGN)

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,801 shares of the company’s stock after selling 924 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.11% of Myriad Genetics worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Myriad Genetics by 0.8% during the 1st quarter. BlackRock Inc. now owns 14,797,829 shares of the company’s stock worth $372,906,000 after purchasing an additional 113,042 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Myriad Genetics by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,128,384 shares of the company’s stock worth $174,170,000 after purchasing an additional 121,704 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Myriad Genetics by 17.8% during the 1st quarter. Wellington Management Group LLP now owns 5,096,235 shares of the company’s stock worth $128,425,000 after purchasing an additional 770,460 shares during the last quarter. State Street Corp boosted its stake in shares of Myriad Genetics by 14.5% during the 2nd quarter. State Street Corp now owns 4,804,157 shares of the company’s stock worth $87,292,000 after purchasing an additional 607,932 shares during the last quarter. Finally, Glenview Capital Management LLC boosted its position in shares of Myriad Genetics by 112.0% in the fourth quarter. Glenview Capital Management LLC now owns 3,097,768 shares of the company’s stock worth $44,949,000 after acquiring an additional 1,636,284 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Myriad Genetics from $18.00 to $17.00 and set an “underweight” rating on the stock in a research report on Monday, August 7th. StockNews.com assumed coverage on shares of Myriad Genetics in a research report on Thursday. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Myriad Genetics from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.20.

Read Our Latest Stock Analysis on MYGN

Myriad Genetics Stock Performance

MYGN opened at $16.81 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $21.62 and its 200-day moving average is $21.37. Myriad Genetics, Inc. has a 52-week low of $13.92 and a 52-week high of $25.49.

Myriad Genetics (NASDAQ:MYGN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $183.50 million during the quarter, compared to analyst estimates of $187.16 million. Myriad Genetics had a negative net margin of 35.51% and a negative return on equity of 9.43%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, equities research analysts predict that Myriad Genetics, Inc. will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Daniel K. Spiegelman sold 8,638 shares of Myriad Genetics stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $23.01, for a total value of $198,760.38. Following the completion of the sale, the director now owns 40,493 shares in the company, valued at $931,743.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Myriad Genetics Profile

(Free Report)

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 mental health applications. 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, or 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.