Myriad Genetics, Inc. (NASDAQ:MYGN) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,323 shares of the company’s stock after acquiring an additional 3,706 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Myriad Genetics were worth $745,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of Myriad Genetics in the third quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Myriad Genetics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,285 shares of the company’s stock valued at $87,000 after purchasing an additional 583 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Myriad Genetics by 43.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after purchasing an additional 1,471 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Myriad Genetics by 588.4% in the third quarter. Meeder Asset Management Inc. now owns 4,922 shares of the company’s stock valued at $135,000 after purchasing an additional 4,207 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Myriad Genetics in the third quarter valued at $153,000. 99.02% of the stock is owned by institutional investors and hedge funds.

Myriad Genetics Price Performance

Shares of NASDAQ MYGN opened at $10.39 on Tuesday. Myriad Genetics, Inc. has a 1-year low of $9.76 and a 1-year high of $29.30. The business has a 50-day moving average of $13.21 and a 200-day moving average of $18.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.90 and a quick ratio of 1.73. The company has a market capitalization of $945.85 million, a price-to-earnings ratio of -7.99 and a beta of 1.88.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). Myriad Genetics had a negative return on equity of 4.51% and a negative net margin of 14.09%. The company had revenue of $210.60 million during the quarter, compared to analysts’ expectations of $210.35 million. During the same period in the previous year, the company earned ($0.12) EPS. On average, equities analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on MYGN. Leerink Partnrs lowered Myriad Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Raymond James reiterated an “outperform” rating and issued a $19.00 target price (down from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. UBS Group dropped their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Craig Hallum assumed coverage on Myriad Genetics in a research report on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target for the company. Finally, Piper Sandler lowered their price target on Myriad Genetics from $24.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.00.

Myriad Genetics Company 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.