Texas Permanent School Fund Corp Buys 10,793 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Texas Permanent School Fund Corp increased its position in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 88,278 shares of the company’s stock after purchasing an additional 10,793 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Myriad Genetics were worth $2,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC increased its position in shares of Myriad Genetics by 10,724.5% during the second quarter. Quest Partners LLC now owns 5,304 shares of the company’s stock valued at $130,000 after purchasing an additional 5,255 shares during the period. Arizona State Retirement System raised its stake in shares of Myriad Genetics by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock valued at $615,000 after buying an additional 829 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Myriad Genetics by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 283,435 shares of the company’s stock worth $6,933,000 after acquiring an additional 6,761 shares during the period. Natixis Advisors LLC boosted its position in shares of Myriad Genetics by 15.5% during the 2nd quarter. Natixis Advisors LLC now owns 275,367 shares of the company’s stock valued at $6,735,000 after acquiring an additional 37,002 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its stake in Myriad Genetics by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 305,217 shares of the company’s stock valued at $7,466,000 after acquiring an additional 3,960 shares during the period. 99.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Myriad Genetics

In other news, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.95, for a total transaction of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Heinrich Dreismann sold 10,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. Following the sale, the director now owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Myriad Genetics Stock Up 2.5 %

Shares of NASDAQ:MYGN opened at $28.60 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.96 and a quick ratio of 1.78. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -10.09 and a beta of 1.92. The company has a 50 day moving average of $27.29 and a 200-day moving average of $23.96. Myriad Genetics, Inc. has a one year low of $13.82 and a one year high of $29.08.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Myriad Genetics had a negative net margin of 19.35% and a negative return on equity of 5.64%. The company had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $206.44 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, sell-side analysts forecast that Myriad Genetics, Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on MYGN shares. Scotiabank raised their price target on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated an “underperform” rating and set a $20.00 price objective (down from $25.00) on shares of Myriad Genetics in a research note on Monday, June 3rd. Wells Fargo & Company started coverage on Myriad Genetics in a report on Tuesday, August 27th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, TD Cowen raised their price target on Myriad Genetics from $28.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.60.

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.