Myriad Genetics Q3 revenue beats analyst estimates, raises FY guidance

Overview

• Molecular diagnostic testing firm's Q3 revenue beat analyst expectations

• On October 19, Company entered into definitive agreement to sell Prenatal Health business to Labcorp for $210 mln in cash

• Raised mid-point of full-year 2026 revenue guidance after Q3 results

Outlook

• Myriad Genetics raises mid-point of 2026 revenue guidance

• Company expects 2026 Cancer Care Continuum and Mental Health revenue of $620 mln to $630 mln

• Company sees 2026 adjusted gross margin between 66% and 67%

Result Drivers

• CCC PRODUCT MIX - Higher Cancer Care Continuum product mix and progress on payer engagement and revenue cycle management initiatives increased average revenue per test, partially offset by lower total test volumes

• PRENATAL HEALTH DECLINE - Prenatal Health revenue and test volume both declined double digits year-over-year, reflecting ongoing trends ahead of planned divestiture

• HEREDITARY CANCER REIMBURSEMENT - Hereditary cancer testing revenue fell 1% year-over-year due to lower reimbursement levels, partly offset by higher test volume

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

• Wall Street's median 12-month price target for Myriad Genetics, Inc. is $4.60, about 23.8% below its November 3 closing price of $6.04

Reuters Recommended Reads

• Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised

• Nov 3 - Amgen Q3 revenue beats expectations on higher volumes

• Nov 3 - Pfizer Q3 revenue beats estimates on new launches; raises guidance

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)