![]() ![]() It could become the mother of all technological revolutions. More Stock News: This Is Bigger than the iPhone! Illumina expects long-term earnings growth of 20%.Īmedisys has an expected long-term earnings growth rate of 17.5%. Intuitive Surgical has an expected long-term earnings growth rate of 12.1%. You can see the complete list of today’s Zacks #1 Rank stocks here. While Intuitive Surgical and Illumina sport a Zacks Rank #1 (Strong Buy), Amedisys carries a Zacks Rank #2 (Buy). Myriad Genetics currently carries a Zacks Rank #3 (Hold).Ī few better-ranked stocks in the broader medical sector are Intuitive Surgical ISRG, Illumina, Inc ILMN and Amedisys, Inc. Per Myriad Genetics, these markets are expected to reach a worth of more than $1.5 billion in fiscal 2023 with around 3.5 million reproductive genetic tests performed in the United States. Per the company, roughly 900,000 carrier screening tests and around 1.3 million non-invasive prenatal screening tests are estimated to be carried out in the United States during fiscal 2018. Per data provided by the company, we believe that Myriad Genetics’ decision to foray into the high-potential reproductive testing market is strategically aligned. Per management, the acquisition deal will help the existing customer base for Counsyl's reproductive tests to expand by almost three-fold.įurther, we encouragingly note that Counsyl’s reproductive genetic tests are currently being covered by commercial insurance in the United States, with more room for expanded coverage for the Foresight (expanded carrier screening) and Prelude (non-invasive prenatal screening) tests in the near term. Further, integrating Counsyl’s reproductive testing products with its hereditary cancer tests, Myriad Genetics plans to solidify its position as a leading women's health genetic testing company. ![]() Myriad Genetics plans to retain Counsyl as a wholly-owned subsidiary, post the successful completion of the acquisition. Myriad Genetics intends to use a combination of cash on hand, an existing revolving credit facility and the issuance of common stock to pay $375 million for the buyout.īuyout Integration and Expected Synergy Benefits After meeting certain customary closing conditions and receiving regulatory approvals, the transaction is expected to close in first-quarter fiscal 2019. Notably, this buyout will cost Myriad Genetics around $375 million. MYGN recently announced a definitive agreement to buy Counsyl - a leader in expanded carrier and non-invasive prenatal screening. ![]()
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