Louisiana State Employees Retirement System Takes Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Louisiana State Employees Retirement System bought a new stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 44,400 shares of the company’s stock, valued at approximately $850,000. Louisiana State Employees Retirement System owned 0.05% of Myriad Genetics as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their price objective on Myriad Genetics from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 29th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.17.

Myriad Genetics Stock Performance

MYGN stock opened at $18.18 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.64 billion, a P/E ratio of -5.68 and a beta of 1.95. Myriad Genetics, Inc. has a 12-month low of $13.82 and a 12-month high of $24.21. The stock’s 50 day simple moving average is $21.08 and its 200 day simple moving average is $19.58.

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

Myriad Genetics Profile

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.