Strs Ohio Decrease Holding in Myriad Genetics, Inc. (NASDAQ:MYGN)

Strs Ohio reduced its stake in Myriad Genetics, Inc. (NASDAQ: MYGN – Free Report) stock by 17.8% during the first quarter, according to its most recent disclosure to the Securities and Exchange Commission (SEC). The fund owned 37,300 shares of the company after selling 8,100 shares during the quarter. Strs Ohio’s holdings in Myriad Genetics were worth $866,000 at his last SEC filing.

A number of other hedge funds and other institutional investors have also increased or decreased their stakes in MYGN. New York Life Investment Management LLC increased its holdings in Myriad Genetics by 12.7% during the fourth quarter. New York Life Investment Management LLC now owns 22,508 shares of the company valued at $327,000 after purchasing an additional 2,535 shares during the period. Landscape Capital Management LLC purchased a new stake in Myriad Genetics stock in Q4 for approximately $2,217,000. Glenview Capital Management LLC increased its stake in Myriad Genetics by 112.0% during the fourth quarter. Glenview Capital Management LLC now owns 3,097,768 shares of the company valued at $44,949,000 after purchasing an additional 1,636,284 shares during the period. Connor Clark & ​​Lunn Investment Management Ltd. purchased a new position in Myriad Genetics during the fourth quarter valued at approximately $160,000. Finally, New Jersey State Common Pension Fund D increased its position in Myriad Genetics by 19.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 119,759 shares of the company valued at $1,738,000 after purchasing an additional 19,665 shares during the period. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Myriad Genetics trades up 4.1%

Shares of MYGN stock opened at $23.08 on Friday. Myriad Genetics, Inc. has a twelve-month low of $13.92 and a twelve-month high of $28.18. The stock has a fifty-day simple moving average of $22.37 and a two hundred day simple moving average of $21.29. The stock has a market cap of $1.88 billion, a price/earnings ratio of -12.82, and a beta of 1.80.

Myriad Genetics (NASDAQ:MYGN – Get Free Report) last released its quarterly earnings data on Wednesday, May 3. The company reported ($0.21) earnings per share for the quarter, missing the ($0.02) consensus estimate of ($0.19). The company reported revenue of $181.20 million during the quarter, compared to the consensus estimate of $171.56 million. Myriad Genetics had a negative net margin of 21.05% and a negative return on equity of 7.42%. The company’s revenues increased 9.9% over the same quarter last year. During the same prior-year quarter, the company earned ($0.14) earnings per share. Research analysts expect Myriad Genetics, Inc. to post -0.63 EPS for the current fiscal year.

Internal activity

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

Analyst upgrades and downgrades

MYGN has been the subject of numerous analyst reports. Goldman Sachs raised its price target on Myriad Genetics from $25.00 to $28.00 and gave the company a “buy” rating in a research note Friday. StockNews.com began coverage of Myriad Genetics in a research report on Thursday, May 18. They set a “hold” rating for the company. Three investment analysts rated the stock with a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.20.

A myriad of genetic profiles

(Free Report)

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic testing 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 to evaluate the risks of hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.

See also

Institutional Ownership by Quarter for Myriad Genetics (NASDAQ:MYGN)

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