Wall Street brokerages expect Veracyte Inc (NASDAQ:VCYT) to announce earnings per share (EPS) of ($0.11) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Veracyte’s earnings, with estimates ranging from ($0.14) to ($0.08). Veracyte reported earnings of ($0.27) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 59.3%. The business is expected to report its next earnings results on Monday, February 25th.
According to Zacks, analysts expect that Veracyte will report full year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.43) to ($0.34). For the next financial year, analysts forecast that the firm will post earnings of ($0.10) per share, with EPS estimates ranging from ($0.15) to ($0.05). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Veracyte.
Get Veracyte alerts:Several brokerages recently commented on VCYT. Zacks Investment Research upgraded Veracyte from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Saturday, February 9th. BidaskClub upgraded Veracyte from a “hold” rating to a “buy” rating in a report on Monday, January 7th. Janney Montgomery Scott downgraded Veracyte from a “buy” rating to a “neutral” rating and set a $12.30 target price on the stock. in a report on Thursday, November 29th. Finally, BTIG Research raised their target price on Veracyte to $17.00 and gave the company a “buy” rating in a report on Friday, January 4th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Veracyte presently has a consensus rating of “Buy” and a consensus target price of $15.83.
Shares of NASDAQ:VCYT traded down $0.29 during mid-day trading on Tuesday, hitting $20.43. 23,940 shares of the company traded hands, compared to its average volume of 359,889. The company has a market cap of $797.81 million, a P/E ratio of -32.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 8.81 and a current ratio of 9.14. Veracyte has a 52-week low of $5.32 and a 52-week high of $22.30.
In other Veracyte news, Chairman Bonnie H. Anderson sold 25,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $15.29, for a total transaction of $389,895.00. Following the completion of the sale, the chairman now owns 94,041 shares in the company, valued at approximately $1,437,886.89. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Bonnie H. Anderson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $12.13, for a total value of $97,040.00. Following the sale, the chairman now owns 59,236 shares of the company’s stock, valued at approximately $718,532.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 876,026 shares of company stock worth $17,623,135. Company insiders own 13.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Group One Trading L.P. acquired a new stake in Veracyte during the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC grew its stake in Veracyte by 562.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 10,732 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Veracyte during the 3rd quarter valued at approximately $127,000. Metropolitan Life Insurance Co. NY grew its position in shares of Veracyte by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,544 shares of the biotechnology company’s stock worth $133,000 after acquiring an additional 8,235 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Veracyte in the 4th quarter worth approximately $140,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.
About Veracyte
Veracyte, Inc operates as a genomic diagnostics company in the United States. It uses genomic technology to resolve diagnostic uncertainty. The company offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.
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