Myriad Genetics (NASDAQ:MYGN) Updates FY24 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.12-0.14 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $837-843 million, compared to the consensus revenue estimate of $841.46 million.

Analysts Set New Price Targets

MYGN has been the topic of a number of research analyst reports. Piper Sandler raised their target price on Myriad Genetics from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. TD Cowen boosted their target price on Myriad Genetics from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Scotiabank increased their target price on shares of Myriad Genetics from $29.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a report on Tuesday, August 27th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Myriad Genetics from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three 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 an average rating of “Hold” and a consensus price target of $28.91.

Myriad Genetics Trading Down 1.5 %

Shares of MYGN stock traded down $0.26 on Friday, hitting $17.41. The company had a trading volume of 1,280,071 shares, compared to its average volume of 844,648. Myriad Genetics has a twelve month low of $15.99 and a twelve month high of $29.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 1.96. The firm has a market cap of $1.58 billion, a P/E ratio of -9.62 and a beta of 1.93. The stock’s 50-day moving average is $24.54 and its two-hundred day moving average is $24.73.

Insiders Place Their Bets

In other news, CEO Paul J. Diaz sold 15,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $22.93, for a total transaction of $343,950.00. Following the completion of the sale, the chief executive officer now directly owns 962,378 shares in the company, valued at $22,067,327.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, 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 completion of the sale, the chief executive officer now owns 962,378 shares of the company’s stock, valued at $22,067,327.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Colleen F. Reitan sold 46,012 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.95, for a total value of $1,286,035.40. Following the completion of the transaction, the director now directly owns 42,533 shares in the company, valued at approximately $1,188,797.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,012 shares of company stock worth $1,900,485. 2.10% of the stock is currently owned by insiders.

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.