Zacks: Brokerages Anticipate Veracyte Inc (VCYT) Will Announce Earnings of -$0.13 Per Share

Wall Street brokerages expect Veracyte Inc (NASDAQ:VCYT) to report earnings of ($0.13) per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Veracyte’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.15). Veracyte reported earnings of ($0.24) per share in the same quarter last year, which suggests a positive year over year growth rate of 45.8%. The firm is expected to report its next quarterly earnings results on Tuesday, February 26th.

On average, analysts expect that Veracyte will report full-year earnings of ($0.69) per share for the current financial year, with EPS estimates ranging from ($0.71) to ($0.66). For the next financial year, analysts anticipate that the firm will report earnings of ($0.48) per share, with EPS estimates ranging from ($0.60) to ($0.40). Zacks’ EPS calculations are an average based on a survey of research analysts that cover Veracyte.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Monday, October 29th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.13. Veracyte had a negative return on equity of 65.73% and a negative net margin of 33.00%. The company had revenue of $23.47 million during the quarter, compared to analysts’ expectations of $21.52 million.

A number of analysts have weighed in on VCYT shares. ValuEngine cut Veracyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 21st. BidaskClub raised Veracyte from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Zacks Investment Research raised Veracyte from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Saturday, January 5th. Janney Montgomery Scott raised Veracyte from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 31st. Finally, William Blair reissued an “outperform” rating on shares of Veracyte in a research report on Tuesday, October 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.83.

In related news, Chairman Bonnie H. Anderson sold 8,000 shares of the business’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $12.13, for a total transaction of $97,040.00. Following the completion of the transaction, the chairman now owns 59,236 shares of the company’s stock, valued at approximately $718,532.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher M. Hall sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $13.51, for a total value of $540,400.00. Following the transaction, the insider now directly owns 35,955 shares of the company’s stock, valued at approximately $485,752.05. The disclosure for this sale can be found here. Insiders have sold a total of 96,805 shares of company stock valued at $1,340,088 in the last three months. 13.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in shares of Veracyte by 562.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 12,640 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 10,732 shares during the last quarter. SG Americas Securities LLC bought a new position in Veracyte during the third quarter valued at about $127,000. Trexquant Investment LP bought a new position in Veracyte during the third quarter valued at about $149,000. Meeder Asset Management Inc. increased its stake in Veracyte by 79.8% during the third quarter. Meeder Asset Management Inc. now owns 16,178 shares of the biotechnology company’s stock valued at $154,000 after acquiring an additional 7,182 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Veracyte during the second quarter valued at about $171,000. 86.73% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:VCYT opened at $16.06 on Friday. Veracyte has a fifty-two week low of $5.23 and a fifty-two week high of $16.62. The stock has a market capitalization of $616.19 million, a price-to-earnings ratio of -17.65 and a beta of 0.53. The company has a quick ratio of 8.81, a current ratio of 9.14 and a debt-to-equity ratio of 0.32.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States. The company uses genomic technology to resolve diagnostic uncertainty. It offers Afirma Thyroid FNA Analysis solution; cytopathology testing services; and the Afirma Malignancy Classifiers to manage thyroid nodule patients.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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