Myriad Genetics (NASDAQ:MYGN) Issues FY24 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.00 to $0.05 for the period, compared to the consensus EPS estimate of $0.03. The company issued revenue guidance of $820 million to $840 million, compared to the consensus revenue estimate of $826.22 million.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their target price on Myriad Genetics from $28.00 to $31.00 and gave the company a buy rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Myriad Genetics has an average rating of Hold and an average target price of $23.17.

Myriad Genetics Stock Performance

NASDAQ MYGN traded down $0.19 on Tuesday, reaching $19.78. The stock had a trading volume of 883,993 shares, compared to its average volume of 642,611. Myriad Genetics has a 1 year low of $13.82 and a 1 year high of $24.21. The business has a 50 day moving average price of $20.67 and a 200 day moving average price of $19.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.09. The business had revenue of $202.20 million during the quarter, compared to analysts’ expectations of $193.51 million. Myriad Genetics had a negative return on equity of 8.03% and a negative net margin of 34.96%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) EPS. On average, equities analysts expect that Myriad Genetics will post -0.36 EPS for the current year.

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.