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The firm said it expects fourth quarter revenues of $12.3 million to $12.5 million, a year-over-year increase of 13 percent to 15 percent.
The company also expects to report a 31 percent increase in full-year 2017 revenues.
The firm said it completed approximately 176,000 Cologuard tests during the quarter, a 115 percent year-over-year spike.
The company expects at least $50 million in Q4 revenues, above the $45 million to $46 million, it had previously guided to.
The investment bank said that an edit to CMS guidelines impacts payments for hereditary cancer testing, and could present Myriad with revenue and EPS headwinds.
In a note, Cowen analyst Doug Schenkel said the company has had trouble meeting its targets and suggested it pursue a strategic sale of its nCounter platform.
The firm estimated that its total revenue in the quarter was $25.9 million to $26.9 million with only $16.9 million coming from products and services.
Quest is buying Shiel from Fresenius Medical Care, and it lowered its expected third quarter revenues by 1.5 percent and its EPS by $.10 on recent natural disasters.
During an earnings call, company executives discussed plans to grow reimbursement of new tests, stabilize pricing, and save costs through a number of projects.
The company is expecting $14.3 million in Q2 revenues, a 157 percent increase over the same quarter last year.