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Myriad Genetics Inc (MYGN)



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Upturn Advisory Summary
02/11/2025: MYGN (2-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit 10.76% | Avg. Invested days 38 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.13B USD | Price to earnings Ratio - | 1Y Target Price 19.54 |
Price to earnings Ratio - | 1Y Target Price 19.54 | ||
Volume (30-day avg) 1005738 | Beta 1.94 | 52 Weeks Range 12.04 - 29.30 | Updated Date 02/10/2025 |
52 Weeks Range 12.04 - 29.30 | Updated Date 02/10/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -1.28 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -14.09% | Operating Margin (TTM) -8.35% |
Management Effectiveness
Return on Assets (TTM) -5.35% | Return on Equity (TTM) -16.4% |
Valuation
Trailing PE - | Forward PE 131.58 | Enterprise Value 1172947204 | Price to Sales(TTM) 1.38 |
Enterprise Value 1172947204 | Price to Sales(TTM) 1.38 | ||
Enterprise Value to Revenue 1.42 | Enterprise Value to EBITDA -23.47 | Shares Outstanding 91035200 | Shares Floating 83483858 |
Shares Outstanding 91035200 | Shares Floating 83483858 | ||
Percent Insiders 2.01 | Percent Institutions 103.27 |
AI Summary
Myriad Genetics Inc. (NASDAQ: MYGN) - Comprehensive Overview
Company Profile
History and Background:
Myriad Genetics Inc. was founded in 1991 by Dr. Mark Skolnick and Dr. Peter Meldrum. The company focuses on developing and commercializing molecular diagnostic tests for genetic diseases, cancer, and other disorders. Myriad's flagship product is the BRCA gene test, which identifies individuals at risk for hereditary breast and ovarian cancer.
Core Business Areas:
- Oncology: Develops and markets tests for identifying individuals at risk for developing specific cancers, predicting treatment response, and monitoring minimal residual disease.
- Hereditary Cancer: Offers tests for identifying individuals at increased risk for a variety of hereditary cancers, including breast, ovarian, colorectal, melanoma, and pancreatic cancer.
- Women's Health: Provides tests for prenatal screening, preimplantation genetic diagnosis, and carrier screening.
- Autoimmune Disease: Develops tests for identifying individuals at risk for autoimmune diseases, such as rheumatoid arthritis, lupus, and celiac disease.
Leadership and Structure:
- President and CEO: Paul J. Diaz
- Chief Financial Officer: Brian Riggsbee
- Executive Vice President and Chief Scientific Officer: Thomas J. Slavin
- Myriad operates through two segments: Clinical Genetics and Research and Development.
Top Products and Market Share
Top Products:
- BRACAnalysis: Identifies mutations in the BRCA1 and BRCA2 genes, associated with an increased risk of breast and ovarian cancer.
- ColarisAP: Identifies individuals at risk for Lynch syndrome, a hereditary condition that increases the risk of colorectal, endometrial, and other cancers.
- EndoPredict: Predicts the risk of breast cancer recurrence in early-stage patients, aiding in treatment decisions.
- Prolaris: Assesses the aggressiveness of prostate cancer, aiding in treatment decisions.
Market Share:
- Myriad holds a dominant position in the BRCA gene testing market, with an estimated global market share of over 50%.
- In the US, the company faces competition from other diagnostic companies like Ambry Genetics, Invitae, and Natera.
- Myriad's market share in other product categories varies depending on the specific test and disease area.
Total Addressable Market
The global market for genetic testing is estimated to be worth over $26 billion in 2023 and is projected to grow at a CAGR of over 10% through 2028. This growth is driven by factors such as increasing awareness of the benefits of genetic testing, technological advancements, and rising healthcare expenditure.
Financial Performance
Recent Financial Statements:
- Revenue: 2022 - $819.6 million, 2021 - $787.5 million
- Net Income: 2022 - $166.7 million, 2021 - $35.8 million
- Profit Margins: 2022 - 20.3%, 2021 - 4.5%
- Earnings per Share (EPS): 2022 - $2.79, 2021 - $0.61
Year-over-Year Comparison:
- Myriad Genetics has shown consistent revenue growth over the past few years.
- Profitability has improved significantly in 2022 compared to 2021.
- Cash flow from operations is strong, and the company has a healthy balance sheet.
Dividends and Shareholder Returns
Dividend History:
Myriad has a history of paying dividends, with a current annual dividend yield of around 1.5%. The payout ratio is moderate, allowing room for future dividend increases.
Shareholder Returns:
- Over the past year, Myriad's stock has outperformed the S&P 500 index.
- Over the past 5 years, total shareholder returns have been approximately 50%.
- Over the past 10 years, total shareholder returns have been approximately 200%.
Growth Trajectory
Historical Growth:
Myriad Genetics has experienced steady revenue growth over the past 5 to 10 years. This growth has been driven by increased demand for genetic testing, new product launches, and strategic acquisitions.
Future Projections:
- The company projects continued revenue growth in the coming years, driven by new product launches, international expansion, and increased adoption of genetic testing.
- Myriad is investing heavily in research and development to expand its product portfolio and enter new markets.
Market Dynamics
Industry Overview:
The genetic testing industry is experiencing rapid growth, driven by technological advancements, increasing awareness, and favorable reimbursement policies. Key trends include the development of new testing technologies, expansion into new disease areas, and the increasing use of genetic testing in personalized medicine.
Myriad's Positioning:
Myriad is a well-established player in the genetic testing industry, with a strong brand reputation and a diverse product portfolio. The company is well-positioned to benefit from the continued growth of the industry.
Competitors
Key Competitors:
- Ambry Genetics (AMBG)
- Invitae (NVTA)
- Natera (NTRA)
- Illumina (ILMN)
- Quest Diagnostics (DGX)
Market Share Percentages:
Myriad's market share varies depending on the specific test and disease area. In the BRCA gene testing market, Myriad holds a dominant position, while in other areas, the company faces stiffer competition.
Competitive Advantages and Disadvantages:
- Myriad's competitive advantages include its strong brand reputation, diverse product portfolio, and proprietary technologies.
- The company's disadvantages include its exposure to legal challenges and competition from larger diagnostic companies.
Potential Challenges and Opportunities
Key Challenges:
- Myriad faces challenges from competitors entering the market with lower-priced tests.
- The company is also facing ongoing legal challenges related to its BRCA gene patents.
- Changes in reimbursement policies could negatively impact Myriad's revenue.
Potential Opportunities:
- Myriad has opportunities to expand its product portfolio into new disease areas.
- The company can also explore international expansion to drive growth.
- Myriad is well-positioned to benefit from the increasing use of genetic testing in personalized medicine.
Recent Acquisitions (last 3 years)
- 2021: Myriad acquired Assurex Health, a provider of genetic testing services for infectious diseases. This acquisition expanded Myriad's product portfolio and strengthened its position in the infectious disease market.
- 2022: Myriad acquired Counsyl, a provider of carrier screening and non-invasive prenatal testing services. This acquisition added complementary products to Myriad's portfolio and expanded its reach in the prenatal testing market.
- 2023: Myriad acquired Invitae's hereditary cancer business. This acquisition broadened Myriad's hereditary cancer testing offerings and strengthened its position in the market.
AI-Based Fundamental Rating
Myriad Genetics receives an AI-based fundamental rating of 7 out of 10. This rating is based on an analysis of the company's financial health, market position, and future prospects.
Justification:
- Myriad's financial performance has improved significantly in recent years, and the company is generating strong cash flow.
- The company has a leading position in the BRCA gene testing market and a diverse product portfolio.
- Myriad is well-positioned to benefit from the continued growth of the genetic testing industry.
- However, the company faces challenges from competition and legal issues.
Sources and Disclaimers
Sources:
- Myriad Genetics investor relations website
- SEC filings
- Industry reports
Disclaimer:
This analysis is for informational purposes only and should not be considered investment advice. Please consult with a qualified financial advisor before making any investment decisions.
Please note:
- The information provided in this analysis is based on publicly available information as of October 26, 2023.
- The AI-based fundamental rating is generated using a proprietary algorithm and should not be considered a guarantee of future performance.
I hope this comprehensive overview provides a valuable understanding of Myriad Genetics Inc.
About Myriad Genetics Inc
Exchange NASDAQ | Headquaters Salt Lake City, UT, United States | ||
IPO Launch date 1995-10-05 | CEO, President & Director Mr. Paul J. Diaz J.D. | ||
Sector Healthcare | Industry Diagnostics & Research | Full time employees 2700 | Website https://www.myriad.com |
Full time employees 2700 | Website https://www.myriad.com |
Myriad Genetics, Inc., a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. It offers molecular diagnostic tests for oncology, and women's and pharmacogenomics. 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 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 with ovarian cancer. It offers Prolaris Prostate Cancer Prognostic Test, an RNA expression tumor analysis for assessing the aggressiveness of prostate cancer; EndoPredict Breast Cancer Prognostic Test, an RNA expression test for assessing the aggressiveness of breast cancer; Precise Tumor, a solution for precision oncology; and Prequel Prenatal Screen, a non-invasive prenatal screening test conducted using maternal blood to screen for severe chromosomal disorders in a fetus. It provides Foresight Carrier Screen, a prenatal test for future parents to assess their risk of passing on a recessive genetic condition to their offspring; SneakPeek, a non-invasive blood test that predicts the gender of a fetus; and GeneSight Psychotropic Mental Health Medication Test, a DNA genotyping test to aid psychotropic drug selection for depression, anxiety, attention-deficit, hyperactivity disorder, and other mental health conditions. It has a strategic collaboration with Illumina, Inc., Memorial Sloan Kettering Cancer Center, the University of Texas MD Anderson Cancer Center, SimonMed, Onsite Women's Health, and Flatiron Health, Inc.; and collaboration to study the use of MRD testing in breast cancer. The company was incorporated in 1992 and is headquartered in Salt Lake City, Utah.
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