Segall Bryant & Hamill LLC Has $18.31 Million Stock Holdings in Veracyte, Inc. $VCYT

Segall Bryant & Hamill LLC lifted its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 533,432 shares of the biotechnology company’s stock after purchasing an additional 57,137 shares during the quarter. Segall Bryant & Hamill LLC owned 0.67% of Veracyte worth $18,313,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in VCYT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Veracyte during the 2nd quarter worth $25,000. First Horizon Corp bought a new stake in shares of Veracyte in the third quarter worth about $31,000. Osaic Holdings Inc. raised its position in shares of Veracyte by 289.9% during the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 893 shares during the period. Headlands Technologies LLC raised its position in shares of Veracyte by 74.8% during the second quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 1,208 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Veracyte in the 3rd quarter valued at approximately $107,000.

Insider Activity

In other Veracyte news, SVP Annie Mcguire sold 10,739 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $43.13, for a total value of $463,173.07. Following the completion of the transaction, the senior vice president directly owned 67,760 shares in the company, valued at $2,922,488.80. This trade represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karin Eastham sold 20,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $45.45, for a total value of $909,000.00. Following the completion of the sale, the director directly owned 13,554 shares of the company’s stock, valued at approximately $616,029.30. The trade was a 59.61% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 54,385 shares of company stock valued at $2,483,179. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on VCYT. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 27th. Guggenheim increased their price objective on shares of Veracyte from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. UBS Group reaffirmed a “buy” rating on shares of Veracyte in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Veracyte in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Veracyte Stock Down 2.6%

Shares of VCYT stock opened at $35.08 on Wednesday. Veracyte, Inc. has a 12 month low of $22.61 and a 12 month high of $50.71. The company’s fifty day simple moving average is $39.55 and its 200-day simple moving average is $38.03. The firm has a market cap of $2.79 billion, a PE ratio of 42.27 and a beta of 1.91.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.12. Veracyte had a net margin of 12.83% and a return on equity of 8.05%. The firm had revenue of $140.64 million for the quarter, compared to analyst estimates of $135.79 million. During the same period in the previous year, the business earned $0.06 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. On average, equities analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.

Veracyte Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.