Reimbursement Update for Myriad - Analyst Blog
March 04 2013 - 9:40AM
Zacks
Myriad Genetics
Inc. (MYGN) continues to progress on the reimbursement
front for its well-regarded tests as the Noridian Administrative
Services recently priced the new molecular pathology codes for
2013.
Noridian is the administrative contractor for Jurisdiction F which
includes Utah. Given that Myriad’s entire gamut of tests menu
reimbursed by Medicare are carried out in its Utah laboratory, the
new pricing will be relevant for the company’s Medicare
reimbursement in the ongoing year.
For the integrated Bracanalysis test, Noridian pricing of $3,382
compares with the average private insurance reimbursement of
$3,680. The four elements of the legislated gap-fill process
justify Bracanalysis pricing in the band of $3,100 to $3,300. Thus,
the Noridian pricing reflects an upside of $82 for 2013. For
Colaris, Noridian pricing of $4,343 compares with the private-payer
reimbursement of $3,800.
Outlook
Myriad currently envisages fiscal 2013 revenues towards the higher
end of the guidance range of $575−$585 million (reflecting over 18%
growth). The current Zacks Consensus Estimate of $585 million is in
agreement with the revised projections.
The company expects that fiscal 2013 earnings per share is likely
to be at the high end of the range of $1.55−$1.58 (reflecting 21%
growth). The current Zacks Consensus Estimate of $1.58 tallies with
Myriad’s expectations, thanks to a majority of upward revisions of
earnings estimates.
Our Take
Earnings momentum for Myriad has been on the rise ever since this
molecular diagnostic company released its encouraging
second-quarter fiscal 2013 results. With a history of posting
positive earnings beat and the agreement among analysts, the stock
carries a Zacks Rank #2 (Buy).
Besides Myriad, we are bullish on Cyberonics
(CYBX), Given Imaging (GIVN) and Medical
Action (MDCI). Each of these stocks carries a Zacks Rank
#1 (Strong Buy).
CYBERONICS INC (CYBX): Free Stock Analysis Report
GIVEN IMAGING (GIVN): Free Stock Analysis Report
MEDICAL ACTION (MDCI): Free Stock Analysis Report
MYRIAD GENETICS (MYGN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Given Imaging (NASDAQ:GIVN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Given Imaging (NASDAQ:GIVN)
Historical Stock Chart
From Jul 2023 to Jul 2024