Illinois Municipal Retirement Fund Grows Position in Myriad Genetics, Inc. (NASDAQ:MYGN)

Illinois Municipal Retirement Fund raised its stake in Myriad Genetics, Inc. (NASDAQ:MYGN) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,323 shares of the company’s stock after purchasing an additional 3,706 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Myriad Genetics worth $745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MYGN. Loomis Sayles & Co. L P grew its stake in shares of Myriad Genetics by 153.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company’s stock valued at $59,973,000 after purchasing an additional 1,326,497 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Myriad Genetics by 21.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company’s stock valued at $69,226,000 after purchasing an additional 440,107 shares during the last quarter. Iron Triangle Partners LP purchased a new position in shares of Myriad Genetics in the 3rd quarter valued at approximately $11,007,000. State Street Corp grew its stake in shares of Myriad Genetics by 8.3% in the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company’s stock valued at $128,827,000 after purchasing an additional 359,685 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Myriad Genetics by 26.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company’s stock valued at $29,135,000 after purchasing an additional 224,255 shares during the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MYGN. UBS Group lowered their target price on Myriad Genetics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley decreased their price target on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. The Goldman Sachs Group decreased their price target on Myriad Genetics from $29.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Leerink Partners downgraded Myriad Genetics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $30.00 to $21.00 in a research note on Monday, December 9th. Finally, Raymond James restated an “outperform” rating and issued a $19.00 price target (down from $27.00) on shares of Myriad Genetics in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Myriad Genetics presently has a consensus rating of “Hold” and an average target price of $22.00.

Myriad Genetics Stock Performance

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

Myriad Genetics (NASDAQ:MYGN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.09) earnings per share (EPS) 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 firm had revenue of $210.60 million for the quarter, compared to analyst estimates of $210.35 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. Sell-side analysts forecast that Myriad Genetics, Inc. will post -0.3 earnings per share for the current fiscal 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.