Myriad Genetics Inc

MYGN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$37.60	Lcrx	Spnkyyh

Myriad Genetics Earnings: Improved Pricing Dynamics and Healthy Margins Lead Positive Start to 2024

Karen Andersen , Ava Gams

May 8, 2024

No-moat Myriad Genetics delivered strong first-quarter results ahead of expectations, with sales up roughly 12% year over year, composed of high-single-digit volume growth and about 2% pricing growth. The stock rose significantly on what we view as investor optimism at the contribution from pricing growth following a period of tough pricing dynamics. Nevertheless, we are holding our $21 fair value estimate steady, as our 2024 estimates remain intact and in line with unchanged guidance, and our longer-term outlook for the firm has not changed. Even with the positive rally, shares remain relatively fairly valued.

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