Wall Street analysts predict that Veracyte Inc (NASDAQ:VCYT) will announce earnings of ($0.09) per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Veracyte’s earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at ($0.08). Veracyte reported earnings of ($0.18) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to issue its next earnings report on Monday, July 22nd.
According to Zacks, analysts expect that Veracyte will report full year earnings of ($0.28) per share for the current fiscal year, with EPS estimates ranging from ($0.29) to ($0.26). For the next fiscal year, analysts anticipate that the business will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.30) to ($0.03). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Veracyte.
Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Veracyte had a negative return on equity of 23.43% and a negative net margin of 15.51%. The company had revenue of $29.53 million during the quarter, compared to analyst estimates of $28.20 million.
In other Veracyte news, Chairman Bonnie H. Anderson sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $22.99, for a total value of $183,920.00. Following the transaction, the chairman now directly owns 103,292 shares of the company’s stock, valued at $2,374,683.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher M. Hall sold 80,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $25.12, for a total value of $2,009,600.00. Following the completion of the transaction, the insider now directly owns 46,641 shares in the company, valued at $1,171,621.92. The disclosure for this sale can be found here. Insiders sold 219,000 shares of company stock worth $5,512,180 over the last three months. Insiders own 8.30% of the company’s stock.
A number of large investors have recently made changes to their positions in VCYT. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Veracyte during the 1st quarter valued at about $86,400,000. Millennium Management LLC lifted its position in shares of Veracyte by 81.0% during the 4th quarter. Millennium Management LLC now owns 1,418,286 shares of the biotechnology company’s stock valued at $17,842,000 after buying an additional 634,597 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Veracyte by 23,740.9% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 609,134 shares of the biotechnology company’s stock valued at $15,241,000 after buying an additional 606,579 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Veracyte during the 1st quarter valued at about $14,934,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Veracyte during the 1st quarter valued at about $11,887,000. 94.32% of the stock is currently owned by institutional investors and hedge funds.
VCYT traded down $0.61 during trading on Friday, reaching $25.96. The stock had a trading volume of 200,888 shares, compared to its average volume of 789,701. The firm’s 50 day simple moving average is $25.18. The company has a quick ratio of 6.06, a current ratio of 6.32 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.12 billion, a P/E ratio of -41.87 and a beta of 0.88. Veracyte has a one year low of $8.77 and a one year high of $29.43.
Veracyte Company Profile
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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