-$0.14 Earnings Per Share Expected for Veracyte, Inc. (NASDAQ:VCYT) This Quarter

Wall Street analysts predict that Veracyte, Inc. (NASDAQ:VCYT) will post ($0.14) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Veracyte’s earnings, with estimates ranging from ($0.20) to ($0.06). Veracyte posted earnings per share of ($0.08) during the same quarter last year, which indicates a negative year over year growth rate of 75%. The business is expected to report its next earnings results on Monday, November 1st.

On average, analysts expect that Veracyte will report full year earnings of ($1.05) per share for the current financial year, with EPS estimates ranging from ($1.21) to ($0.90). For the next financial year, analysts expect that the company will report earnings of ($0.39) per share, with EPS estimates ranging from ($0.55) to ($0.21). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Veracyte.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Thursday, July 29th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.12. Veracyte had a negative return on equity of 4.05% and a negative net margin of 40.06%. The firm had revenue of $55.11 million during the quarter, compared to the consensus estimate of $47.73 million.

A number of research firms have commented on VCYT. Zacks Investment Research downgraded Veracyte from a “buy” rating to a “hold” rating in a report on Friday, July 30th. TheStreet raised Veracyte from a “d+” rating to a “c” rating in a report on Wednesday, August 25th. William Blair reissued a “buy” rating on shares of Veracyte in a report on Thursday, May 27th. Needham & Company LLC raised their target price on Veracyte from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, July 30th. Finally, Morgan Stanley reduced their target price on Veracyte from $45.00 to $42.00 and set an “underweight” rating for the company in a report on Friday, July 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Veracyte currently has an average rating of “Buy” and a consensus price target of $52.50.

Veracyte stock traded down $3.16 during midday trading on Friday, reaching $48.88. The company’s stock had a trading volume of 415,223 shares, compared to its average volume of 829,960. Veracyte has a fifty-two week low of $29.72 and a fifty-two week high of $86.03. The stock’s 50 day simple moving average is $44.51 and its 200 day simple moving average is $44.11. The firm has a market capitalization of $3.46 billion, a PE ratio of -48.44 and a beta of 0.77.

In related news, insider Giulia C. Kennedy sold 12,531 shares of Veracyte stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $50.55, for a total transaction of $633,442.05. Following the completion of the sale, the insider now owns 55,381 shares in the company, valued at approximately $2,799,509.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bonnie H. Anderson sold 2,600 shares of Veracyte stock in a transaction dated Friday, September 17th. The stock was sold at an average price of $50.18, for a total value of $130,468.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,031 shares of company stock valued at $858,967. Company insiders own 8.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Veracyte by 228.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 103,471 shares of the biotechnology company’s stock valued at $5,066,000 after buying an additional 71,999 shares during the period. US Bancorp DE grew its holdings in Veracyte by 106.6% in the 1st quarter. US Bancorp DE now owns 7,208 shares of the biotechnology company’s stock valued at $387,000 after buying an additional 3,719 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Veracyte by 50.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,139 shares of the biotechnology company’s stock valued at $599,000 after buying an additional 3,751 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Veracyte by 8.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 36,953 shares of the biotechnology company’s stock valued at $1,986,000 after buying an additional 2,823 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Veracyte by 44.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,984 shares of the biotechnology company’s stock valued at $375,000 after buying an additional 2,141 shares during the period.

About Veracyte

Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm’s portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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