Myriad Genetics FY2024 EPS Estimate Increased by Scotiabank

Myriad Genetics, Inc. (NASDAQ:MYGN - Free Report) - Equities research analysts at Scotiabank lifted their FY2024 earnings estimates for Myriad Genetics in a research note issued on Wednesday, January 8th. Scotiabank analyst S. Nam now expects that the company will earn ($0.30) per share for the year, up from their previous estimate of ($0.34). The consensus estimate for Myriad Genetics' current full-year earnings is ($0.32) per share. Scotiabank also issued estimates for Myriad Genetics' FY2025 earnings at ($0.55) EPS.

MYGN has been the topic of several other reports. UBS Group began coverage on Myriad Genetics in a research report on Tuesday, December 10th. They set a "neutral" rating and a $18.00 target price on the stock. Morgan Stanley decreased their target price on shares of Myriad Genetics from $32.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. Leerink Partners lowered shares of Myriad Genetics from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $30.00 to $21.00 in a research report on Monday, December 9th. Piper Sandler decreased their price target on shares of Myriad Genetics from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, November 11th. Finally, Leerink Partnrs downgraded Myriad Genetics from a "strong-buy" rating to a "hold" rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Myriad Genetics presently has a consensus rating of "Hold" and a consensus target price of $24.27.

Myriad Genetics Price Performance

MYGN stock opened at $14.83 on Monday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -11.41 and a beta of 1.89. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.05. Myriad Genetics has a 52-week low of $12.87 and a 52-week high of $29.30. The stock's fifty day simple moving average is $15.12 and its 200-day simple moving average is $22.25.

Institutional Investors Weigh In On Myriad Genetics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P lifted its position in Myriad Genetics by 153.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,189,601 shares of the company's stock worth $59,973,000 after acquiring an additional 1,326,497 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Myriad Genetics by 21.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,527,435 shares of the company's stock valued at $69,226,000 after purchasing an additional 440,107 shares during the period. Iron Triangle Partners LP acquired a new position in shares of Myriad Genetics during the third quarter worth $11,007,000. State Street Corp grew its holdings in Myriad Genetics by 8.3% during the 3rd quarter. State Street Corp now owns 4,703,442 shares of the company's stock valued at $128,827,000 after purchasing an additional 359,685 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Myriad Genetics by 26.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,063,711 shares of the company's stock valued at $29,135,000 after purchasing an additional 224,255 shares in the last quarter. Hedge funds and other institutional investors 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 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.