State of Alaska Department of Revenue Has $1.24 Million Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Posted by Defense World Staff on Oct 15th, 2023

State of Alaska Department of Revenue trimmed its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN – Free Report) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,661 shares of the company’s stock after selling 1,830 shares during the period. State of Alaska Department of Revenue owned 0.07% of Myriad Genetics worth $1,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. American Century Companies Inc. lifted its stake in shares of Myriad Genetics by 22.3% during the 1st quarter. American Century Companies Inc. now owns 16,607 shares of the company’s stock worth $418,000 after buying an additional 3,027 shares during the last quarter. US Bancorp DE lifted its stake in shares of Myriad Genetics by 14.6% during the 1st quarter. US Bancorp DE now owns 4,243 shares of the company’s stock worth $108,000 after buying an additional 541 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Myriad Genetics during the 1st quarter worth about $372,000. Bank of Montreal Can lifted its stake in shares of Myriad Genetics by 147.9% during the 1st quarter. Bank of Montreal Can now owns 65,458 shares of the company’s stock worth $1,687,000 after buying an additional 39,052 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Myriad Genetics by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 42,669 shares of the company’s stock worth $1,075,000 after buying an additional 15,255 shares during the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Stock Performance

MYGN opened at $14.54 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of -4.78 and a beta of 1.78. Myriad Genetics, Inc. has a 52-week low of $13.92 and a 52-week high of $24.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.23 and a current ratio of 1.33. The business’s fifty day moving average is $16.71 and its 200-day moving average is $20.18.

Myriad Genetics (NASDAQ:MYGN – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $183.50 million for the quarter, compared to analyst estimates of $187.16 million. Myriad Genetics had a negative return on equity of 9.43% and a negative net margin of 35.51%. Myriad Genetics’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Sell-side analysts expect that Myriad Genetics, Inc. will post -0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

MYGN has been the subject of several research reports. StockNews.com initiated coverage on Myriad Genetics in a report on Thursday, October 5th. They set a “hold” rating for the company. The Goldman Sachs Group lifted their price target on Myriad Genetics from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, JPMorgan Chase & Co. dropped their price target on Myriad Genetics from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Monday, August 7th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.20.

Read Our Latest Analysis on MYGN

Myriad Genetics Company 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.