Maintaining Our Myriad FVE Despite Continued Coverage Issues for GeneSight in 3Q
Myriad Genetics reported third-quarter earnings of $216.6 million, in line with management’s guidance and representing an 18.3% year-over-year increase, while its adjusted operating margin remained flat and slightly below expectations at 17%. Though management is attempting to curtail costs and expand its margin with its Elevate 2020 program, we will have to wait and see if the spend on the program is justified after its full implementation. We are holding our fair value estimate steady at $32.5...Myriad Genetics is a precision medicine company acting as a trusted advisor to transform patient lives through molecular diagnostics. The company's molecular diagnostic tests include: myRisk? Hereditary Cancer for assessing the risks for hereditary cancers; BRACAnalysis? for assessing the risk of developing breast and ovarian cancer; riskScore? that improves the company's myRisk Hereditary Cancer test; GeneSight? to support psychotropic drug selection for depressed patients; Vectra?DA for assessing the disease activity of rheumatoid arthritis; and Prolaris? for assessing the aggressiveness of prostate cancer. The company also provides pharmaceutical and clinical services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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