Myriad Genetics released a report on quality, innovation, and responsibility, highlighting advances in genetic testing and corporate practices.
Quiver AI Summary
Myriad Genetics, Inc. has released its Quality, Innovation, and Corporate Responsibility Report for the period from January 1, 2023, to September 30, 2024, showcasing its dedication to responsible operations in the healthcare sector. CEO Paul J. Diaz emphasized the company's focus on quality, innovation, and its mission to enhance health and well-being. The report highlights achievements including optimized sample processing times, a high provider satisfaction score, advancements in technology such as molecular residual disease assays, and successful initiatives in employee satisfaction and sustainability, like recycling nearly 47 tons of plastic. Myriad continues to position itself as a leader in genetic testing and precision medicine, aiming to improve patient care and reduce healthcare costs.
Potential Positives
- Myriad Genetics demonstrated operational excellence with 88% of samples processed within industry-leading turnaround times and achieved a 72 net promoter score among providers.
- The company showcased its commitment to innovation through advancements in technologies like molecular residual disease (MRD) assays and its Labs of the Future initiative, which aims to enhance efficiency and reduce operating costs.
- High employee satisfaction was highlighted, with 84% of employees indicating that Myriad is a great place to work, significantly above the average U.S. company rating.
- Myriad's sustainability efforts were underscored by successfully recycling 46.9 tons of plastic, reflecting its dedication to corporate responsibility and environmental stewardship.
Potential Negatives
- The mention of "forward-looking statements" highlights potential risks and uncertainties that could negatively impact the company's future performance, suggesting that outcomes may not align with management's expectations.
- While the report indicates a strong employee sentiment, there may be concerns regarding the 16% of employees who do not feel positively about the workplace environment, which could indicate underlying issues in corporate culture.
- The necessity of a robust quality management system could imply previous challenges in operational execution, suggesting that the company may have needed to address past deficiencies in its service delivery.
FAQ
What is the focus of Myriad Genetics’ latest report?
The report emphasizes quality, innovation, and corporate responsibility in genetic testing and precision medicine.
How has Myriad Genetics improved its operational excellence?
Myriad processed 88% of samples within leading turnaround times and achieved a 72 net promoter score among providers.
What innovations has Myriad Genetics introduced recently?
Myriad developed new technologies like molecular residual disease assays and modernized facilities to enhance testing workflows.
How does Myriad Genetics support corporate responsibility?
The company focuses on sustainability, employee satisfaction, recycling efforts, and community relations to contribute positively.
Where can I find more information about Myriad Genetics?
Visit Myriad Genetics' official website at www.myriad.com for detailed information about their services and reports.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MYGN Insider Trading Activity
$MYGN insiders have traded $MYGN stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.
Here’s a breakdown of recent trading of $MYGN stock by insiders over the last 6 months:
- PAUL J DIAZ (President and CEO) has traded it 2 times. They made 0 purchases and 2 sales, selling 30,000 shares.
- DALE MUZZEY (Chief Scientific Officer) sold 2,100 shares.
- HEINRICH DREISMANN sold 10,000 shares.
- COLLEEN F REITAN sold 46,012 shares.
- MARGARET ANCONA (SVP, Chief of Staff) sold 11,538 shares.
- RASHMI KUMAR sold 7,500 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MYGN Hedge Fund Activity
We have seen 130 institutional investors add shares of $MYGN stock to their portfolio, and 97 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GLENVIEW CAPITAL MANAGEMENT, LLC removed 2,486,902 shares (-66.3%) from their portfolio in Q3 2024
- CITADEL ADVISORS LLC removed 1,695,989 shares (-96.1%) from their portfolio in Q3 2024
- CAMBER CAPITAL MANAGEMENT LP removed 1,550,000 shares (-28.2%) from their portfolio in Q3 2024
- WELLINGTON MANAGEMENT GROUP LLP removed 1,545,842 shares (-18.7%) from their portfolio in Q3 2024
- LOOMIS SAYLES & CO L P added 1,326,497 shares (+153.7%) to their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC added 777,499 shares (+17.7%) to their portfolio in Q3 2024
- MORGAN STANLEY removed 491,650 shares (-35.8%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SALT LAKE CITY, Jan. 06, 2025 (GLOBE NEWSWIRE) --
Myriad Genetics, Inc
. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today released its Quality, Innovation, and Corporate Responsibility Report, highlighting key efforts that reflect its commitment to conduct operations as a responsible corporation in the healthcare industry.
“Quality, innovation and corporate responsibility are at the heart of what we do at Myriad Genetics,” said Paul J. Diaz, President and CEO, Myriad Genetics. “In concert with our mission to advance health and well-being for all, we continue to execute our long-term strategic growth plan, driving sustained progress and impact. This report reflects our progress on how we are making genetic testing more accessible, helping patients take more control of their health, and enabling providers to better prevent and treat disease.”
Highlights of the report, which reflect the 21-month period of Jan. 1, 2023 through Sept. 30, 2024 (the “Reporting Period”), include:
Continued operational excellence
: Through a quality management system that documents our best practices, Myriad shared success in several categories including 88% of samples being processed within what we believe are industry-leading turnaround-times. Further, the company achieved a 72 net promoter score among current providers across its testing portfolio through July 2024.
Commitment to innovation
: Myriad continues to develop new technologies like molecular residual disease (MRD) assay and bring innovations to existing products. Its Labs of the Future initiative has resulted in modernized facilities that are expected to yield improved workflows, faster turnaround times and reduced operating costs.
Being a good corporate partner
: In addition to corporate governance, Myriad showcased its retention and recruitment, sustainability and community relations efforts. From a people standpoint, in 2024, 84% of employees said Myriad is a great place to work, which was 27 percentage points higher than the typical U.S. company. Further, in the Reporting Period, the company recycled 46.9 tons of plastic from its Salt Lake City laboratories.
For more information about Myriad’s quality, innovation and corporate responsibility, please read the report
here
.
About Myriad Genetics
Myriad 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 Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that the company's Labs of the Future are expected to yield improved workflows, faster turnaround times and reduced operating costs. 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 Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Glenn Farrell
(385) 318-3718
PR@myriad.com
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