Myriad Q2 revenue misses estimates, cuts 2026 revenue outlook

The current average analyst rating on the shares is "hold," with 2 "strong buy" or "buy," 6 "hold," and 2 "sell" or "strong sell" recommendations.

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 $6.00, about 19% above its July 29 closing price of $5.04.

The stock recently traded at 47 times the next 12-month earnings, versus a P/E of 63 three months ago.

• PAYER FRICTION - The company said increased payer friction and changes in cash collection estimates reduced average revenue per test and pressured hereditary cancer testing revenue.
• PRENATAL HEALTH WEAKNESS - Prenatal Health revenue declined 16% year over year due to a 9% drop in test volumes and lower pricing.
• HIGHER OPERATING COSTS - An expanded commercial team and strategic investments increased adjusted operating expenses, adding pressure to the bottom line.

Myriad Genetics said second-quarter revenue fell 11% year over year, missing analyst expectations. Adjusted earnings per share for the quarter turned to a loss and also missed analyst expectations.