Myriad Genetics (NASDAQ:MYGN – Get Free Report) updated its FY 2023 earnings guidance on Friday. The company provided EPS guidance of -0.330–0.280 for the period, compared to the consensus EPS estimate of -0.300. The company issued revenue guidance of $747.0 million-$753.0 million, compared to the consensus revenue estimate of $751.3 million.
Myriad Genetics Stock Down 0.5 %
Shares of Myriad Genetics stock opened at $22.00 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.15 and a current ratio of 1.27. 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 $20.21 and a 200 day moving average price of $18.14.
Wall Street Analysts Forecast Growth
MYGN has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a research note on Tuesday, December 19th. They set an equal weight rating and a $20.00 price objective for the company. Guggenheim initiated coverage on shares of Myriad Genetics in a research note on Thursday, December 14th. They set a buy rating and a $23.00 price objective for the company. StockNews.com raised shares of Myriad Genetics from a sell rating to a hold rating in a research report on Wednesday, November 8th. Piper Sandler initiated coverage on shares of Myriad Genetics in a research report on Thursday, December 21st. They set a neutral rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Myriad Genetics from $17.00 to $14.00 and set an underweight rating for the company in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $23.75.
Institutional Investors Weigh In On Myriad Genetics
A number of institutional investors have recently modified their holdings of the stock. UBS Group AG raised its stake in shares of Myriad Genetics by 138.6% in the 4th quarter. UBS Group AG now owns 168,816 shares of the company’s stock valued at $3,231,000 after purchasing an additional 98,056 shares in the last quarter. Citigroup Inc. raised its stake in Myriad Genetics by 5.0% during the third quarter. Citigroup Inc. now owns 121,780 shares of the company’s stock worth $1,953,000 after acquiring an additional 5,799 shares during the period. Deutsche Bank AG raised its stake in Myriad Genetics by 6.8% during the third quarter. Deutsche Bank AG now owns 41,428 shares of the company’s stock worth $665,000 after acquiring an additional 2,622 shares during the period. The Manufacturers Life Insurance Company raised its stake in Myriad Genetics by 25.7% during the third quarter. The Manufacturers Life Insurance Company now owns 40,991 shares of the company’s stock worth $657,000 after acquiring an additional 8,374 shares during the period. Finally, AQR Capital Management LLC raised its stake in Myriad Genetics by 7.5% during the third quarter. AQR Capital Management LLC now owns 58,925 shares of the company’s stock worth $945,000 after acquiring an additional 4,110 shares during the period. Institutional investors and hedge funds own 99.02% 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 mental health applications. 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, 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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