Louisiana State Employees Retirement System Purchases Shares of 44,400 Myriad Genetics, Inc. (NASDAQ:MYGN)

Louisiana State Employees Retirement System purchased a new stake in Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 44,400 shares of the company's stock, valued at approximately $850,000. Louisiana State Employees Retirement System owned approximately 0.05% of Myriad Genetics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Myriad Genetics by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,996,260 shares of the company's stock worth $96,180,000 after acquiring an additional 251,426 shares in the last quarter. Earnest Partners LLC raised its position in shares of Myriad Genetics by 6.7% during the 3rd quarter. Earnest Partners LLC now owns 3,473,281 shares of the company's stock worth $55,711,000 after acquiring an additional 219,503 shares in the last quarter. Sei Investments Co. raised its position in shares of Myriad Genetics by 10.2% during the 3rd quarter. Sei Investments Co. now owns 1,523,287 shares of the company's stock worth $24,434,000 after acquiring an additional 140,528 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Myriad Genetics by 609.1% during the third quarter. Qube Research & Technologies Ltd now owns 131,553 shares of the company's stock worth $2,110,000 after buying an additional 113,000 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Myriad Genetics by 80.7% during the third quarter. Envestnet Asset Management Inc. now owns 221,175 shares of the company's stock worth $3,548,000 after buying an additional 98,744 shares during the period. Institutional investors and hedge funds own 99.02% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price target on Myriad Genetics from $28.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Myriad Genetics presently has a consensus rating of "Hold" and a consensus target price of $23.17.

Myriad Genetics Stock Performance

MYGN traded up $0.20 during trading on Friday, hitting $18.18. 518,695 shares of the stock were exchanged, compared to its average volume of 517,173. The stock has a fifty day moving average price of $21.08 and a two-hundred day moving average price of $19.61. Myriad Genetics, Inc. has a 1-year low of $13.82 and a 1-year high of $24.21. The firm has a market capitalization of $1.64 billion, a P/E ratio of -5.68 and a beta of 1.95. The company has a quick ratio of 1.87, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Myriad Genetics (NASDAQ:MYGN - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The company had revenue of $196.60 million for the quarter, compared to the consensus estimate of $194.80 million. During the same period last year, the business posted ($0.20) EPS. The company's revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that Myriad Genetics, Inc. will post -0.36 earnings per share for the current year.

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.