DGX vs MYGN: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
DGX is the larger of the two ($25.94B market cap): the incumbent the market prices for continued execution (19.49x forward earnings, beta 0.54). MYGN is the smaller challenger ($548.07M), priced similarly on forward earnings (-9.73x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
DGX vs MYGN: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | DGX | MYGN | What it tells you |
|---|---|---|---|
| Market cap | $25.94B | $548.07M | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 19.49 | -9.73 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Beta | 0.54 | 1.64 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 82% of range | 52% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 3.44 | 1.80 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Before you buy: how DGX and MYGN affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. DGX and MYGN share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined DGX and MYGN exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Quest Diagnostics (DGX) do?
Quest Diagnostics operates one of the largest clinical laboratory networks in the United States, processing billions of test results a year across a footprint of patient service centers, hospital and physician outreach relationships, and consumer-initiated testing. Its core Diagnostic Information Services segment spans routine testing (blood counts, cholesterol, metabolic panels) plus a growing base of advanced molecular and genomic diagnostics in oncology, neurology, women's health, and infectious disease. Scale, a national logistics network, and long-standing payer contracts are the company's main moats in a fragmented roughly $100 billion US lab market where Quest and Labcorp together hold the top tier.
What does Myriad Genetics (MYGN) do?
Myriad Genetics runs a high-complexity laboratory business built on genetic and genomic tests. It reports three franchises. Cancer Care Continuum is the largest at ~$114 million of second-quarter 2026 revenue, anchored by the MyRisk hereditary cancer panel, Prolaris for prostate cancer, EndoPredict for breast cancer, MyChoice CDx (a companion diagnostic for PARP inhibitors) and the newer Precise MRD test that looks for residual cancer DNA in blood. Prenatal Health (~$40 million in the quarter) sells Prequel, Foresight, SneakPeek and FirstGene. Mental Health (~$37 million) is GeneSight, a pharmacogenomic test that helps clinicians choose psychiatric medications. Myriad is paid per test, mostly by commercial insurers and Medicare, so the price it collects matters as much as the number of tests it runs.
DGX vs MYGN: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- DGX drivers: Organic volume growth; Acquisitions as a growth engine.
- MYGN drivers: The Labcorp prenatal sale; Hereditary cancer volume versus price.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The largest risk is reimbursement policy: Medicare rates under PAMA face potential cuts (a delay pushed reductions toward 2027, but a roughly 15 percent cut to hundreds of tests looms without permanent reform), and private-payer pricing pressure caps growth. For MYGN, reimbursement is the central risk.
DGX or MYGN: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick DGX if you believe its drivers more; MYGN if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the DGX and MYGN guides.
DGX vs MYGN: the full fundamentals
DGX. After a roughly 35 percent gain in 2026, Quest trades near 19.5x forward earnings and about 14x EV/EBITDA as of October 16, 2026, still a moderate multiple for a business growing revenue around 10 percent. The dividend has risen for 15 consecutive years, most recently a 7.5 percent increase, and the payout is about a quarter of earnings. Third-quarter results on October 22, 2026 are the next test, with consensus at about $2.87 of EPS on about $3.05 billion of revenue and the 15 analysts tracked by Yahoo Finance holding a mean target of about $251.
MYGN. Myriad trades at a fraction of its sales because the market doubts the revenue base is stable. Trailing revenue of ~$807 million combines full-year 2025 revenue of ~$824.5 million with a weaker first half of 2026. There are no meaningful earnings to value: GAAP and adjusted results are both negative in 2026. Cash of ~$115 million roughly offsets ~$121 million of long-term debt, so enterprise value is close to market value. The $210 million Labcorp proceeds, if the deal closes, would equal roughly 40% of the post-announcement market value.
Headline figures (approximate, October 2026): DGX shows revenue (ttm) ~$11.56B, latest quarter +10.2% year over year, latest quarter (q2 2026) Revenue ~$3.04B; adj. EPS $3.12 vs ~$2.82 estimate, margins (ttm) ~33.2% gross, ~15.3% operating, ~9.2% net, net income (ttm) ~$1.06B; MYGN shows revenue (ttm) ~$807 million, 2026 revenue guidance $770 to $790 million, net loss (first half 2026) ~$77 million, adjusted gross margin (q2 2026) ~67%.
The bottom line: DGX vs MYGN
DGX and MYGN are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined DGX and MYGN exposure against your real portfolio. It is not an investment adviser.
Wondering how DGX or MYGN fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Quest Diagnostics with AI
Connect the broker you already use and ask Walnut's AI how DGX fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between DGX and MYGN?
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Quest Diagnostics operates one of the largest clinical laboratory networks in the United States, processing billions of test results a year across a footprint of patient service centers, hospital and physician outreach relationships, and consumer-initiated testing. Myriad Genetics runs a high-complexity laboratory business built on genetic and genomic tests. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is DGX or MYGN the better stock?
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Neither is universally better. DGX is the larger incumbent; MYGN is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, DGX or MYGN?
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On forward P/E (as of October 2026), DGX trades at 19.49x and MYGN at -9.73x, so MYGN is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both DGX and MYGN?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of DGX vs MYGN?
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DGX: The largest risk is reimbursement policy: Medicare rates under PAMA face potential cuts (a delay pushed reductions toward 2027, but a roughly 15 percent cut to hundreds of tests looms without permanent reform), and private-payer pricing pressure caps growth. Labor shortages in clinical lab technologists and molecular specialists can raise costs and constrain capacity. Increased FDA oversight of laboratory-developed tests could add compliance burden. Acquisition-led growth carries integration and overpayment risk, and a large debt load from deal activity adds interest expense. Finally, the business is competitive and partly commoditized, so share losses to Labcorp, hospital in-sourcing, or specialty labs would pressure both volume and margin. MYGN: Reimbursement is the central risk. Myriad's revenue fell ~11% in the second quarter on nearly flat volume, which shows how sensitive it is to what payers actually pay. CMS's proposed 2027 Clinical Laboratory Fee Schedule includes cuts of up to ~15% on some codes Myriad uses; one analyst called the impact minimal, but the final numbers are not set. GeneSight lost UnitedHealthcare coverage in 2025, a reminder that a single payer decision can hit a franchise. The company is losing money: the first half of 2026 produced a ~$77 million GAAP net loss and ~$21 million of negative adjusted EBITDA, with cash down from ~$150 million to ~$115 million in six months. Competition in hereditary testing and MRD comes from larger, better funded labs. The prenatal sale may not close, or may close late, and losing ~$160 million of revenue makes the remaining company smaller and more concentrated. Law firms announced investigations after the July guidance cut; these are solicitations, not filed suits, but they can become one. The stock is highly volatile, with more than 40 daily moves above 5% in the past year.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell DGX or MYGN; figures are approximate and dated (as of October 2026). Verify current data before investing.