Myriad Genetics (NASDAQ:MYGN) Releases FY22 Earnings Guidance

Myriad Genetics (NASDAQ:MYGNGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $(0.10)-$0.00 for the period, compared to the consensus estimate of $0.10. The company issued revenue guidance of $670-$700 million, compared to the consensus revenue estimate of $689.19 million. Myriad Genetics also updated its FY 2022 guidance to -$0.10-0 EPS.

Analysts Set New Price Targets

A number of brokerages have recently commented on MYGN. StockNews.com cut shares of Myriad Genetics from a buy rating to a hold rating in a report on Wednesday, July 13th. TheStreet lowered shares of Myriad Genetics from a c- rating to a d+ rating in a research report on Friday, June 3rd. The Goldman Sachs Group reduced their target price on shares of Myriad Genetics from $26.00 to $23.00 and set a sell rating for the company in a report on Tuesday, April 19th. Cowen set a $25.00 target price on Myriad Genetics in a research report on Tuesday, July 19th. Finally, SVB Leerink increased their target price on Myriad Genetics from $26.00 to $30.00 and gave the company a market perform rating in a research report on Friday.

Myriad Genetics Trading Up 0.2 %

Shares of Myriad Genetics stock traded up $0.06 during trading on Friday, hitting $27.46. 470,382 shares of the stock traded hands, compared to its average volume of 573,128. The firm has a market cap of $2.21 billion, a P/E ratio of -114.41 and a beta of 1.70. Myriad Genetics has a 52-week low of $16.02 and a 52-week high of $36.95. The stock’s fifty day simple moving average is $20.69 and its 200 day simple moving average is $22.89.

Myriad Genetics (NASDAQ:MYGNGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The business had revenue of $179.30 million during the quarter, compared to the consensus estimate of $170.05 million. Myriad Genetics had a negative return on equity of 3.44% and a negative net margin of 2.62%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. As a group, equities analysts expect that Myriad Genetics will post -0.33 EPS for the current year.

Insider Activity at Myriad Genetics

In related news, Director Daniel K. Spiegelman sold 6,424 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $19.25, for a total value of $123,662.00. Following the sale, the director now owns 33,980 shares in the company, valued at approximately $654,115. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Myriad Genetics

Several large investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in shares of Myriad Genetics by 14.6% in the 1st quarter. US Bancorp DE now owns 4,243 shares of the company’s stock valued at $108,000 after purchasing an additional 541 shares during the period. Captrust Financial Advisors boosted its position in shares of Myriad Genetics by 103.2% in the 1st quarter. Captrust Financial Advisors now owns 5,083 shares of the company’s stock valued at $128,000 after purchasing an additional 2,581 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Myriad Genetics during the 1st quarter worth approximately $303,000. Engineers Gate Manager LP acquired a new stake in Myriad Genetics during the 1st quarter worth approximately $360,000. Finally, Mariner LLC acquired a new stake in Myriad Genetics during the 1st quarter worth approximately $361,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

About Myriad Genetics

(Get Rating)

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It 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, or 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.

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