Slightly Increasing Our Myriad FVE Based on Lower Tax Rate
Myriad Genetics reported strong results for the second fiscal quarter of 2018 and raised guidance for the full fiscal year based on continued hereditary cancer and GeneSight (depression) testing demand, a successful cost-savings plan, and the impact of U.S. tax reform. We’re raising our fair value estimate to $32.50 per share from $30 based on a reduction in our long-term tax rate assumption. We continue to think that strong demand for Myriad’s hereditary cancer tests (higher perceived quality t...
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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