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

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 0.120-0.140 for the period, compared to the consensus 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.

Myriad Genetics Trading Down 0.1 %

MYGN stock opened at $16.27 on Friday. Myriad Genetics has a fifty-two week low of $14.72 and a fifty-two week 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. The company has a 50 day moving average price of $21.06 and a 200 day moving average price of $24.18.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Myriad Genetics news, CEO Paul J. Diaz sold 15,000 shares of Myriad Genetics stock in a transaction on Friday, October 11th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. Following the completion of the sale, the chief executive officer now directly owns 962,378 shares of the company’s stock, valued at approximately $22,067,327.54. The trade was a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Heinrich Dreismann sold 10,000 shares of Myriad Genetics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. Following the completion of the sale, the director now directly owns 121,648 shares of the company’s stock, valued at approximately $3,290,578.40. This trade represents a 7.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,012 shares of company stock valued at $1,900,485 over the last quarter. Insiders own 2.10% of the company’s stock.

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.