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MYGN Stock Might Gain From SneakPeek Availability in Retail Stores
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Myriad Genetics, Inc. (MYGN - Free Report) recently made SneakPeek available over the counter in more than 8,800 retail locations nationwide. SneakPeek is the first at-home early fetal sex test for use at six weeks, now available on shelves in Walmart, Walgreens and CVS stores.
Through the SneakPeek test, Myriad Genetics is on a mission to make DNA-based prenatal information affordable and accessible for all families.
MYGN Stock Movement Following the News
Following the news, shares of MYGN fell 2.4% to $15.78 at yesterday’s closing.
According to a 2024 consumer survey, 82% of expectant parents wanted to know the baby's sex before delivery, and a majority of those people preferred buying a test in-store over ordering online. Nowadays, expecting parents want to know fetal sex sooner than ever for preparedness, naming, nursery and registries, bonding and reduced stress. Henceforth, we expect the company’s strategic move to make SneakPeek available in retail stores to have a positive impact on MYGN’s stock in the coming days.
Myriad Genetics currently has a market capitalization of $937.2 million. The company’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 247.73%.
About Myriad Genetics’ SneakPeek
Since 2015, the SneakPeek test has offered expectant families an easy and convenient noninvasive test (available to order online and through doctor’s offices) to learn the sex of their baby. In 2022, Myriad Genetics acquired SneakPeek’s parent company, Gateway Genomics, with a shared goal of expanding consumer access to the innovative at-home fetal sex test through retail partnerships.
SneakPeek is the only at-home test with more than 99% accuracy in detecting a baby’s gender as early as six weeks into pregnancy, clinically proven by peer-reviewed published scientific studies.
More on SneakPeek
The retail test kit includes the patented SneakPeek Snap device, which can be placed on the user’s upper arm with the simple press of a button to collect a blood sample. The sample must then be mailed to the SneakPeek laboratory in the given postage-paid envelope. Test results can be delivered as early as the same day the sample is received through a celebratory text message and email.
More on the News
The retail launch will be followed by a product rebrand, a new packaging design, and a website centered on gender discovery as the first key moment of parental bonding with a baby. These are scheduled for 2025. The brand’s new tagline is "Plan for Joy."
Image Source: Zacks Investment Research
Industry Prospects Favor MGN
Per the Grand View Research report, the global non-invasive prenatal testing market was valued at $4.21 billion in 2023 and is expected to witness a compound annual growth rate (CAGR) of 10.06% from 2024 to 2030. The increasing demand for non-invasive prenatal testing (NIPT), rising collaborations & licensing agreements, and improvements in the reimbursement scenario are some of the key factors to fuel market growth.
Recent Development by MYGN
Last month, Myriad Genetics announced a strategic partnership with jscreen — a national organization focused on genetic education and preventative testing for high-risk populations. This collaboration merges Myriad’s advanced hereditary cancer and reproductive genetic products, MyRisk with RiskScore and Foresight Carrier Screen, with jscreen’s well-established education and care navigation platform.
MYGN’s Price Performance
In the past year, MYGN’s shares have lost 9.4% against the industry’s 7.5% growth.
MYGN’s Zacks Rank and Other Key Picks
MYGN currently carries a Zacks Rank #1 (Strong Buy).
Boston Scientific’s shares have surged 69.3% in the past year. Estimates for the company’s earnings per share (EPS) have jumped 2.5% to $2.46 for 2024 and 2.2% to $2.77 for 2025 in the past 30 days. BSX’s earnings outpaced estimates in each of the trailing four quarters, delivering an average beat of 8.3%. In the last reported quarter, it posted an earnings surprise of 8.6%.
Estimates for Globus Medical’s 2024 EPS have remained constant at $2.84 in the past 30 days. Shares of the company have surged 60.6% in the past year compared with the industry’s growth of 32.7%. GMED’s earnings surpassed estimates in each of the trailing four quarters, the average beat being 12.1%. In the last reported quarter, it delivered an earnings surprise of 10.3%.
Estimates for ResMed’s fiscal 2025 EPS have risen 2.7% in the past 30 days. Shares of the company have surged 86.3% in the past year compared with the industry’s 32.1% growth. RMD’s earnings surpassed estimates in each of the trailing four quarters, the average beat being 6.4%. In the last reported quarter, it delivered an earnings surprise of 8.4%.
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MYGN Stock Might Gain From SneakPeek Availability in Retail Stores
Myriad Genetics, Inc. (MYGN - Free Report) recently made SneakPeek available over the counter in more than 8,800 retail locations nationwide. SneakPeek is the first at-home early fetal sex test for use at six weeks, now available on shelves in Walmart, Walgreens and CVS stores.
Through the SneakPeek test, Myriad Genetics is on a mission to make DNA-based prenatal information affordable and accessible for all families.
MYGN Stock Movement Following the News
Following the news, shares of MYGN fell 2.4% to $15.78 at yesterday’s closing.
According to a 2024 consumer survey, 82% of expectant parents wanted to know the baby's sex before delivery, and a majority of those people preferred buying a test in-store over ordering online. Nowadays, expecting parents want to know fetal sex sooner than ever for preparedness, naming, nursery and registries, bonding and reduced stress. Henceforth, we expect the company’s strategic move to make SneakPeek available in retail stores to have a positive impact on MYGN’s stock in the coming days.
Myriad Genetics currently has a market capitalization of $937.2 million. The company’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 247.73%.
About Myriad Genetics’ SneakPeek
Since 2015, the SneakPeek test has offered expectant families an easy and convenient noninvasive test (available to order online and through doctor’s offices) to learn the sex of their baby. In 2022, Myriad Genetics acquired SneakPeek’s parent company, Gateway Genomics, with a shared goal of expanding consumer access to the innovative at-home fetal sex test through retail partnerships.
SneakPeek is the only at-home test with more than 99% accuracy in detecting a baby’s gender as early as six weeks into pregnancy, clinically proven by peer-reviewed published scientific studies.
More on SneakPeek
The retail test kit includes the patented SneakPeek Snap device, which can be placed on the user’s upper arm with the simple press of a button to collect a blood sample. The sample must then be mailed to the SneakPeek laboratory in the given postage-paid envelope. Test results can be delivered as early as the same day the sample is received through a celebratory text message and email.
More on the News
The retail launch will be followed by a product rebrand, a new packaging design, and a website centered on gender discovery as the first key moment of parental bonding with a baby. These are scheduled for 2025. The brand’s new tagline is "Plan for Joy."
Image Source: Zacks Investment Research
Industry Prospects Favor MGN
Per the Grand View Research report, the global non-invasive prenatal testing market was valued at $4.21 billion in 2023 and is expected to witness a compound annual growth rate (CAGR) of 10.06% from 2024 to 2030. The increasing demand for non-invasive prenatal testing (NIPT), rising collaborations & licensing agreements, and improvements in the reimbursement scenario are some of the key factors to fuel market growth.
Recent Development by MYGN
Last month, Myriad Genetics announced a strategic partnership with jscreen — a national organization focused on genetic education and preventative testing for high-risk populations. This collaboration merges Myriad’s advanced hereditary cancer and reproductive genetic products, MyRisk with RiskScore and Foresight Carrier Screen, with jscreen’s well-established education and care navigation platform.
MYGN’s Price Performance
In the past year, MYGN’s shares have lost 9.4% against the industry’s 7.5% growth.
MYGN’s Zacks Rank and Other Key Picks
MYGN currently carries a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader medical space are Boston Scientific (BSX - Free Report) , Globus Medical (GMED - Free Report) and ResMed (RMD - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Boston Scientific’s shares have surged 69.3% in the past year. Estimates for the company’s earnings per share (EPS) have jumped 2.5% to $2.46 for 2024 and 2.2% to $2.77 for 2025 in the past 30 days. BSX’s earnings outpaced estimates in each of the trailing four quarters, delivering an average beat of 8.3%. In the last reported quarter, it posted an earnings surprise of 8.6%.
Estimates for Globus Medical’s 2024 EPS have remained constant at $2.84 in the past 30 days. Shares of the company have surged 60.6% in the past year compared with the industry’s growth of 32.7%. GMED’s earnings surpassed estimates in each of the trailing four quarters, the average beat being 12.1%. In the last reported quarter, it delivered an earnings surprise of 10.3%.
Estimates for ResMed’s fiscal 2025 EPS have risen 2.7% in the past 30 days. Shares of the company have surged 86.3% in the past year compared with the industry’s 32.1% growth. RMD’s earnings surpassed estimates in each of the trailing four quarters, the average beat being 6.4%. In the last reported quarter, it delivered an earnings surprise of 8.4%.