Myriad Genetics (NASDAQ:MYGN) Issues FY 2024 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.000-0.050 for the period, compared to the consensus EPS estimate of 0.020. The company issued revenue guidance of $820.0 million-$840.0 million, compared to the consensus revenue estimate of $826.6 million.

Wall Street Analyst Weigh In

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

Myriad Genetics Stock Down 1.0 %

Shares of NASDAQ:MYGN opened at $19.78 on Wednesday. Myriad Genetics has a 52-week low of $13.82 and a 52-week high of $24.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.87 and a current ratio of 2.01. The firm has a fifty day moving average of $20.59 and a 200 day moving average of $19.88. The firm has a market capitalization of $1.79 billion, a PE ratio of -6.18 and a beta of 1.96.

Myriad Genetics (NASDAQ:MYGN) last released its quarterly earnings data 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 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 business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.28) EPS. As a group, research analysts anticipate that Myriad Genetics will post -0.36 EPS for the current fiscal year.

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.