Teacher Retirement System of Texas Acquires 4,257 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Teacher Retirement System of Texas grew its holdings in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,957 shares of the company’s stock after purchasing an additional 4,257 shares during the quarter. Teacher Retirement System of Texas’ holdings in Myriad Genetics were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MYGN. Point72 Hong Kong Ltd purchased a new stake in Myriad Genetics during the third quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Myriad Genetics by 43.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,833 shares of the company’s stock valued at $132,000 after acquiring an additional 1,471 shares during the period. Blue Trust Inc. increased its stake in shares of Myriad Genetics by 14.1% during the 4th quarter. Blue Trust Inc. now owns 14,451 shares of the company’s stock worth $198,000 after purchasing an additional 1,788 shares during the last quarter. Swiss National Bank increased its stake in shares of Myriad Genetics by 1.0% during the 4th quarter. Swiss National Bank now owns 178,600 shares of the company’s stock worth $2,449,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Myriad Genetics by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 646,003 shares of the company’s stock worth $8,857,000 after purchasing an additional 2,256 shares during the period. 99.02% of the stock is currently owned by institutional investors.

Myriad Genetics Trading Down 0.1 %

Shares of MYGN stock opened at $8.87 on Tuesday. The company has a market capitalization of $809.91 million, a PE ratio of -6.82 and a beta of 1.79. Myriad Genetics, Inc. has a 52-week low of $8.53 and a 52-week high of $29.30. The business’s fifty day moving average is $11.69 and its 200 day moving average is $16.30. 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 released its quarterly 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 net margin of 14.09% and a negative return on equity of 4.51%. The business 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 business earned ($0.12) EPS. On average, equities research analysts anticipate that Myriad Genetics, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MYGN has been the subject of several research reports. Leerink Partners lowered Myriad Genetics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $30.00 to $21.00 in a report on Monday, December 9th. Craig Hallum started coverage on Myriad Genetics in a research note on Wednesday, February 12th. They set a “buy” rating and a $29.00 price target for the company. Piper Sandler upgraded Myriad Genetics from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $11.50 to $12.50 in a research note on Wednesday, March 12th. Leerink Partnrs downgraded shares of Myriad Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, StockNews.com upgraded shares of Myriad Genetics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics currently has a consensus rating of “Hold” and an average price target of $21.89.

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.