Strs Ohio Lowers Stake in Myriad Genetics, Inc. (NASDAQ:MYGN)

Strs Ohio cut its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,300 shares of the company’s stock after selling 5,800 shares during the quarter. Strs Ohio owned approximately 0.05% of Myriad Genetics worth $790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MYGN. Wellington Management Group LLP grew its holdings in shares of Myriad Genetics by 4.4% during the third quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company’s stock worth $96,180,000 after buying an additional 251,426 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Myriad Genetics by 6.7% in the third quarter. Earnest Partners LLC now owns 3,473,281 shares of the company’s stock worth $55,711,000 after acquiring an additional 219,503 shares during the last quarter. Sei Investments Co. boosted its position in shares of Myriad Genetics by 10.2% in the third quarter. Sei Investments Co. now owns 1,523,287 shares of the company’s stock worth $24,434,000 after acquiring an additional 140,528 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Myriad Genetics by 609.1% in the third quarter. Qube Research & Technologies Ltd now owns 131,553 shares of the company’s stock worth $2,110,000 after acquiring an additional 113,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Myriad Genetics by 80.7% in the third quarter. Envestnet Asset Management Inc. now owns 221,175 shares of the company’s stock worth $3,548,000 after acquiring an additional 98,744 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics Trading Up 0.2 %

Shares of MYGN stock opened at $18.63 on Thursday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -5.82 and a beta of 1.95. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. Myriad Genetics, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $24.21. The firm’s 50 day moving average price is $21.39 and its two-hundred day moving average price is $19.58.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $194.80 million. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. Myriad Genetics’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. On average, analysts anticipate that Myriad Genetics, Inc. will post -0.36 EPS for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their target price on shares of Myriad Genetics from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.17.

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.