Myriad Genetics (NASDAQ:MYGN) Issues FY24 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) updated its FY24 earnings guidance on Tuesday. 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 Upgrades and Downgrades

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

Myriad Genetics Stock Down 1.0 %

MYGN stock traded down $0.19 during trading hours on Tuesday, reaching $19.78. 884,097 shares of the stock were exchanged, compared to its average volume of 642,611. The firm’s 50-day moving average is $20.67 and its 200-day moving average is $19.85. Myriad Genetics has a 12 month low of $13.82 and a 12 month high of $24.21. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -6.18 and a beta of 1.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.87.

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