Myriad Genetics (NASDAQ:MYGN – Get Rating) released its quarterly earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.03, Briefing.com reports. The company had revenue of $179.30 million for the quarter, compared to the consensus estimate of $170.05 million. Myriad Genetics had a negative net margin of 2.62% and a negative return on equity of 3.44%. Myriad Genetics's revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Myriad Genetics updated its FY22 guidance to $(0.10)-$0.00 EPS and its FY 2022 guidance to -$0.10-0 EPS.

Myriad Genetics Price Performance

Shares of MYGN opened at $27.46 on Friday. The company's fifty day simple moving average is $20.69 and its 200-day simple moving average is $22.87. Myriad Genetics has a twelve month low of $16.02 and a twelve month high of $36.95.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MYGN shares. Cowen set a $25.00 price target on shares of Myriad Genetics in a research note on Tuesday, July 19th. The Goldman Sachs Group decreased their price target on shares of Myriad Genetics from $26.00 to $23.00 and set a "sell" rating on the stock in a research note on Tuesday, April 19th. StockNews.com downgraded shares of Myriad Genetics from a "buy" rating to a "hold" rating in a research note on Wednesday, July 13th. SVB Leerink increased their target price on shares of Myriad Genetics from $26.00 to $30.00 and gave the company a "market perform" rating in a research note on Friday. Finally, TheStreet downgraded shares of Myriad Genetics from a "c-" rating to a "d+" rating in a research note on Friday, June 3rd.

Insider Transactions at Myriad Genetics

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its holdings in Myriad Genetics by 147.9% during the 1st quarter. Bank of Montreal Can now owns 65,458 shares of the company's stock worth $1,687,000 after acquiring an additional 39,052 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Myriad Genetics by 55.6% in the 1st quarter. MetLife Investment Management LLC now owns 42,669 shares of the company's stock valued at $1,075,000 after buying an additional 15,255 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Myriad Genetics in the 1st quarter valued at about $648,000. American Century Companies Inc. boosted its holdings in shares of Myriad Genetics by 22.3% in the 1st quarter. American Century Companies Inc. now owns 16,607 shares of the company's stock valued at $418,000 after buying an additional 3,027 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Myriad Genetics in the 1st quarter valued at about $399,000. 97.44% of the stock is currently owned by institutional investors.

Myriad Genetics Company Profile

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Myriad Genetics, Inc, a genetic testing and precision medicine company, develops and commercializes 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 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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