Equities analysts predict that Veracyte, Inc. (NASDAQ:VCYT) will announce $18.84 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Veracyte’s earnings. The lowest sales estimate is $18.62 million and the highest is $19.00 million. Veracyte posted sales of $18.26 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Veracyte will report full year sales of $18.84 million for the current year, with estimates ranging from $70.98 million to $71.40 million. For the next financial year, analysts anticipate that the company will post sales of $84.61 million per share, with estimates ranging from $83.00 million to $85.46 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow Veracyte.
Veracyte (NASDAQ:VCYT) last issued its earnings results on Monday, November 6th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). Veracyte had a negative return on equity of 52.99% and a negative net margin of 38.19%. The business had revenue of $17.50 million during the quarter, compared to analyst estimates of $19.54 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Veracyte’s revenue for the quarter was down 5.9% on a year-over-year basis.
Shares of Veracyte (NASDAQ:VCYT) opened at $6.29 on Thursday. The company has a quick ratio of 4.86, a current ratio of 5.19 and a debt-to-equity ratio of 0.59. Veracyte has a 12-month low of $5.75 and a 12-month high of $9.80.
In related news, Chairman Bonnie H. Anderson sold 16,000 shares of Veracyte stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $9.41, for a total transaction of $150,560.00. Following the sale, the chairman now owns 16,000 shares of the company’s stock, valued at approximately $150,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher M. Hall sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $9.00, for a total value of $180,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 48,000 shares of company stock worth $435,740. 13.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VCYT. Ark Investment Management LLC boosted its holdings in shares of Veracyte by 172.3% in the 2nd quarter. Ark Investment Management LLC now owns 163,020 shares of the biotechnology company’s stock worth $1,358,000 after purchasing an additional 103,157 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Veracyte by 46.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,358 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 29,406 shares during the period. Perkins Capital Management Inc. purchased a new position in shares of Veracyte in the 3rd quarter worth approximately $546,000. Essex Investment Management Co. LLC purchased a new position in shares of Veracyte in the 3rd quarter worth approximately $1,615,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Veracyte by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 825,860 shares of the biotechnology company’s stock worth $7,581,000 after purchasing an additional 34,966 shares during the period. Institutional investors and hedge funds own 69.23% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Veracyte, Inc. (VCYT) Expected to Post Quarterly Sales of $18.84 Million” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/12/07/veracyte-inc-vcyt-expected-to-post-quarterly-sales-of-18-84-million.html.
Veracyte Company Profile
Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about Veracyte Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Veracyte Inc. and related companies.