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Myriad Genetics (MYGN) Stock Tumbles on Q4 Earnings Miss, Guidance

NEW YORK (TheStreet) -- Shares of Myriad Genetics (MYGN) were dropping 30.48%% to $20.48 early Wednesday morning after the company posted 2016 fourth quarter results, missing expectations and lowering guidance for the 2017 fiscal year.

The Salt Lake City-based molecular diagnostics company posted adjusted earnings of 36 cents per share, lower than estimates of 38 cents per share.

Revenue was $186.5 million in the quarter, down 2% year-over-year and falling short of Wall Street's estimates of $188.4 million.

The decline in revenue was attributed to lower sales in its core hereditary...