Myriad Genetics (NASDAQ:MYGN) Updates FY 2025 Earnings Guidance

Myriad Genetics (NASDAQ:MYGN) updated its FY 2025 earnings guidance on Monday. The company provided earnings per share guidance of -0.020-0.02 for the period, compared to the consensus earnings per share estimate of -0.160. The company issued revenue guidance of $818.0 million-$828.0 million, compared to the consensus revenue estimate of $822.2 million.

Myriad Genetics Price Performance

NASDAQ MYGN traded up $0.14 during trading on Monday, reaching $8.18. 1,866,863 shares of the company’s stock were exchanged, compared to its average volume of 1,626,906. The business has a 50 day moving average price of $7.44 and a 200-day moving average price of $6.04. The stock has a market capitalization of $761.11 million, a P/E ratio of -1.91 and a beta of 1.97. Myriad Genetics has a fifty-two week low of $3.76 and a fifty-two week high of $19.60.

Myriad Genetics (NASDAQ:MYGN) last posted its earnings results on Tuesday, January 16th. The company reported ($0.19) earnings per share for the quarter. Myriad Genetics had a negative return on equity of 5.17% and a negative net margin of 47.45%.The business had revenue of $156.40 million for the quarter. Myriad Genetics has set its FY23 guidance at ($0.33)-($0.28) EPS. On average, analysts forecast that Myriad Genetics will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Myriad Genetics in a research report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.45.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. bought a new stake in Myriad Genetics in the first quarter valued at approximately $105,000. Royal Bank of Canada lifted its position in shares of Myriad Genetics by 82.4% in the 1st quarter. Royal Bank of Canada now owns 33,326 shares of the company’s stock worth $296,000 after purchasing an additional 15,057 shares during the period. AQR Capital Management LLC boosted its stake in shares of Myriad Genetics by 278.9% in the 1st quarter. AQR Capital Management LLC now owns 433,392 shares of the company’s stock valued at $3,844,000 after purchasing an additional 319,007 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Myriad Genetics by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,256 shares of the company’s stock valued at $2,654,000 after purchasing an additional 14,027 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Myriad Genetics by 1,076.9% during the first quarter. Jane Street Group LLC now owns 213,826 shares of the company’s stock worth $1,897,000 after buying an additional 195,658 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 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.