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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum Score
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Myriad Genetics (MYGN)
Myriad Genetics, headquartered in Salt Lake City, UT, employs a number of proprietary technologies to target the genetic basis of human diseases and the role these genes might play in the onset, progression and treatment of the respective diseases. The company currently has 12 proprietary molecular diagnostic products in the market.
MYGN is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. MYGN has a Momentum Style Score of B, and shares are up 3.5% over the past four weeks.
Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.21 to $0.10 per share. MYGN boasts an average earnings surprise of 213.4%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, MYGN should be on investors' short list.
Zacks Investment Research
SALT LAKE CITY, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced it will showcase 10 studies highlighting its advancements in oncology and reproductive genetic testing at the National Society of Genetic Counselors (NSGC) 43rd Annual Conference, which will take place from Sept. 17-21, 2024, in New Orleans, LA. The research will highlight the value of genetic and genomic testing in patient care and will cover the company’s MyRisk Hereditary Cancer Test, FirstGene Multiple Prenatal Screen, Prequel Prenatal Screen and Foresight Carrier Screen.
“At Myriad, we’re committed to partnering with genetic counselors in an effort to make genetic testing more accessible, affordable and easier to use for all patient populations,” said Susan Manley, Senior Vice President of Medical Services, Myriad Genetics. “We’re excited to share our new research with the genetic counselor community at this year’s NSGC Conference and to showcase how our latest advancements may help better inform personalized care and improve outcomes for patients.”
Myriad’s latest innovations and support services will be on display at booth #119 and through a series of poster presentations at the conference.
Myriad’s Presentation Schedule
Wednesday, Sept. 18, 2024, from 12:15-2:00pm and 5:45-7:00pm CDT
Poster CAN91: Age at Diagnosis of Breast Cancer for Women with Pathogenic Variants in BARD1, RAD51C, and RAD51DSummary: This study shows that the median age of breast cancer diagnosis with pathogenic variants (PVs) in BARD1, RAD51C, and RAD51D is similar to that of other breast cancer genes. Additionally, it shows that a significant number of PV carriers are diagnosed prior to the recommended screening age of 40 years.
Poster PRE323: Outcomes in pregnancies that screened positive for rare autosomal aneuploidies (RAAs) Summary: By linking prenatal cell-free DNA results to insurance claims data, this study provides evidence that RAA-screen positive patients have higher rates of miscarriage and preterm birth as compared to RAA-screen negative patients.
Poster PRE333: Complications and outcomes of pregnancies screening positive for microdeletions 22q11.2, 15q11.2, 1p36, 4p, or 5pSummary: This study shows that microdeletion screen-positive pregnancies may experience higher rates of ultrasound abnormalities and pregnancy complications.
Poster PRE347: Validation of fetal and maternal recessive disease genotyping with FirstGene: a combined, non-invasive prenatal cfDNA assay for fetal aneuploidy, recessive diseases, and serological screeningSummary: This study indicates that the FirstGene screen accurately identifies fetal SNV and INDELs for recessive conditions.
Poster PRE349: Validation of fetal and maternal spinal muscular atrophy (SMA) and hemoglobin (Hb) Bart’s screening with FirstGene, a combined, non-invasive prenatal cfDNA assay for fetal aneuploidy, recessive diseases, and serological screening Summary: This study indicates that the FirstGene screen accurately identifies maternal and fetal SMA and Hb Bart’s disease status.
Poster PRE351: Validation of fetal RHD copy number calling in FirstGene, a combined, non-invasive prenatal cfDNA assay for fetal aneuploidy, recessive diseases, and serological screeningSummary: This study indicates that the FirstGene assay accurately determines fetal RHD copy number in RhD-negative pregnant patients.
Thursday, Sept. 19, 2024, from 12:00-3:00pm and 4:30-6:30pm CDT
Poster PRE324: A comparison of carrier rates derived from different data sourcesSummary: This study shows high concordance in carrier rates between Myriad’s database and gnomAD data.
Poster PRE344: Investigating cancer diagnosis codes after atypical findings on noninvasive prenatal cell-free DNA (pcfDNA) screeningSummary: This study indicates that patients with an autosomal monosomy or multiple aneuploidies on pcfDNA have a higher risk of a cancer diagnosis than those without.
Poster PRE348: Validation of fetal aneuploidy detection with FirstGene: a combined, non-invasive prenatal cfDNA assay for fetal aneuploidy, recessive diseases, and serological screeningSummary: This study indicates that fetal aneuploidy screening on the FirstGene assay is comparable to that of standalone WGS-based pcfDNA screening with fetal fraction amplification.
Lunch Symposium: At 12:45pm CDT, Myriad will host a lunch symposium titled ‘How genetic counselors can integrate breast cancer risk assessment programs into surgical, primary care, OB/GYN, and imaging clinics’, moderated by Myriad’s Susan Manley.
Myriad will also have a virtual presentation, Characteristics and Cancer Incidence in MITF p.E318K Carriers, available for viewing on the NSGC online experience platform. This study shows that MITF carriers have an increased risk of melanoma, but not renal cancer, as several other studies have suggested.
For more information about Myriad’s presence at NSGC, please visit: https://myriad.com/nsgc2024/. Updates will also be shared across Myriad’s LinkedIn and X channels throughout the conference.
About Myriad GeneticsMyriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.
Safe Harbor StatementThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's commitment to partnering with genetic counselors in an effort to make genetic testing more accessible, affordable and easier to use for all patient populations and how the company’s latest advancement may help better inform personalized care and improve outcomes for patients. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor ContactMatt Scalo(801) 584-3532IR@myriad.com
Media ContactGlenn Farrell(385) 318-3718PR@myriad.com
Myriad Genetics, Inc. MYGN is making notable strides in its key strategic areas, which is poised to help it grow in the upcoming quarters. New product introductions and enhancements are gaining traction with customers. There is growing optimism about the company’s huge potential in the oncology space. Meanwhile, the impacts of macroeconomic pressure and fierce rivalry can be worrisome for Myriad Genetics’ performance.
In the past year, this Zacks Rank #3 (Hold) company has outperformed both the industry and the S&P 500 composite. Shares have surged 63.8% compared with the industry’s 0.7% rise and the S&P 500’s gain of 25.7%.
The renowned genetic testing and precision medicine company has a market capitalization of $2.51 billion. MYGN’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 213.4%.
Let’s delve deeper.
Tailwinds for MYGN
Progress With Three Strategic Priorities: Myriad Genetics is advancing in developing top-quality products, building new enterprise capabilities and executing key initiatives to drive long-term growth and profitability. MYGN is gaining shares in the hereditary cancer market. The prenatal business grew 25% year over year in the second quarter of 2024, with a 12% increase in testing volumes due to ongoing initiatives to improve average selling prices (ASPs).GeneSight revenues increased 22% from the comparable 2023 period on nearly 129,000 tests in the second quarter.
Myriad Genetics announced several new strategic partnerships, including a collaboration with the National Cancer Center Hospital East in Japan to study the prognostic and predictive value of molecular residual disease (MRD) testing. It focuses its capital on new tech-enabled tools and capabilities, innovation and commercial capabilities that will improve the customer experience, such as the Labs of the Future program.
Product Launches and Upgrades: Myriad Genetics continues to gain customer acceptance for its slew of products. In June 2024, the company launched the Foresight Carrier Screening test with a new Universal Plus Panel. The anticipated guideline expansion by the American College of Obstetricians and Gynecologists for carrier screening is likely to broaden the market opportunity for this test and drive increased adoption and revenue per test improvements.
Earlier this year, the company received a patent from the United States Patent and Trademark Office, which bolsters its ability to deliver a tumor-informed, high-definition MRD assay to the market. It also made enhancements to the GeneSight Psychotropic test — a pharmacogenomic test for mental health medications — in 2023.
Huge Potential in Oncology Testing: Myriad Genetics has identified the key opportunities to grow its Oncology business by expanding companion diagnostics, capturing markets through new clinical guidelines and introducing new offerings. In the second quarter of 2024, growth in hereditary cancer testing revenues reflected the company’s ongoing efforts to improve average revenue per test by expanding payer coverage and improving revenue cycle processes, which are helping reduce the no-pay rate. The addition of Intermountain Precision Genomics has broadened its oncology testing options, bringing Precise Tumor and Precise Liquid tests in-house.
As part of the strategic reorganization of its European operations, the company has sold its EndoPredict business to Eurobio Scientific, giving the right to sell Prolaris in vitro diagnostic kits outside of the United States. The reorganization and sale are expected to boost MYGN’s adjusted operating income annually by more than $4 million by streamlining the cost structure. The development of the Precise MRD assay also advances.
Factors Weighing on MYGN
Macroeconomic Concerns: With active operations internationally, the company is prone to several regulatory, political, operational, financial and economic risks. The curtailment of trade and other business restrictions and global inflationary pressure can result in higher costs of retaining skilled employees, producing test results and procuring lab supplies, denting its profitability. In the second quarter, Penumbra recorded a 4% jump in selling, general and administrative expenses due to a $2.6 million increase in compensation costs.
Increasing Competition: Myriad Genetics is currently facing growing competition in its key BRACAnalysis market as more players make their entry. The company expects the rivalry to intensify, with other companies potentially launching molecular diagnostic tests. In our opinion, competitive headwinds might push down prices for the high-priced tests provided by Myriad Genetics. This might deter margin improvement in the future.
MYGN Estimate Trend
In the past 30 days, the Zacks Consensus Estimate for the company’s 2024 earnings has increased 11.1% to 10 cents.
The Zacks Consensus Estimate for 2024 revenues is pegged at $840.3 million, suggesting an 11.6% rise from the year-ago reported number.
Top MedTech Stocks
Some better-ranked stocks in the broader medical space are TransMedix Group TMDX, AxoGen AXGN and Boston Scientific BSX. While TransMedix Group currently sports a Zacks Rank #1 (Strong Buy), AxoGen and Boston Scientific each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TransMedix Group’s earnings are expected to surge 259.7% in 2024. Its shares have soared 156.5% compared with the industry’s 17.5% rise in the past year.
TMDX’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 287.5%.
AxoGen has an estimated 2024 earnings growth rate of 94.1% compared with the industry’s 12.8%. Shares of the company have soared 165.9% compared with the industry’s 17.6% rise over the past year.
AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%.
Boston Scientific has an estimated earnings growth rate of 17.1% compared with the industry’s 14.9%. Shares of the company have rallied 57.5% compared with the industry’s 19.5% rise over the past year.
BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.2%.
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