Myriad Genetics (NASDAQ:MYGN) Releases FY 2024 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share guidance of 0.120-0.140 for the period, compared to the consensus earnings per share estimate of 0.100. The company issued revenue guidance of $837.0 million-$843.0 million, compared to the consensus revenue estimate of $841.4 million.

Wall Street Analyst Weigh In

MYGN has been the subject of a number of research analyst reports. Piper Sandler cut their price objective on shares of Myriad Genetics from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, November 11th. TD Cowen boosted their price target on shares of Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley cut their price objective on Myriad Genetics from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their target price on Myriad Genetics from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded Myriad Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Myriad Genetics currently has an average rating of “Hold” and an average price target of $27.36.

Myriad Genetics Price Performance

NASDAQ MYGN opened at $16.27 on Friday. The firm’s fifty day simple moving average is $21.28 and its two-hundred day simple moving average is $24.24. The firm has a market capitalization of $1.48 billion, a P/E ratio of -12.52 and a beta of 1.93. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 12-month low of $14.72 and a 12-month high of $29.30.

Insider Buying and Selling at Myriad Genetics

In related news, Director Colleen F. Reitan sold 46,012 shares of Myriad Genetics 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 sale, the director now owns 42,533 shares of the company’s stock, valued at $1,188,797.35. The trade was a 51.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul J. Diaz sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $22.93, for a total transaction of $343,950.00. Following the transaction, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is owned by insiders.

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.