Zacks: Analysts Expect Veracyte Inc (VCYT) Will Post Quarterly Sales of $21.52 Million
Analysts expect Veracyte Inc (NASDAQ:VCYT) to report $21.52 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Veracyte’s earnings, with the highest sales estimate coming in at $22.01 million and the lowest estimate coming in at $21.00 million. Veracyte reported sales of $17.52 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.8%. The business is expected to announce its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Veracyte will report full year sales of $88.12 million for the current year, with estimates ranging from $87.40 million to $88.94 million. For the next financial year, analysts expect that the business will report sales of $106.13 million, with estimates ranging from $104.00 million to $109.50 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Veracyte.
Veracyte (NASDAQ:VCYT) last announced its earnings results on Monday, July 23rd. The biotechnology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09. The business had revenue of $22.75 million during the quarter, compared to the consensus estimate of $20.67 million. Veracyte had a negative net margin of 38.69% and a negative return on equity of 91.03%.
Shares of VCYT stock traded up $0.32 during midday trading on Friday, hitting $10.50. 14,762 shares of the company were exchanged, compared to its average volume of 217,533. The company has a market capitalization of $329.79 million, a price-to-earnings ratio of -11.11 and a beta of 1.83. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.71 and a current ratio of 4.01. Veracyte has a 52 week low of $5.23 and a 52 week high of $12.86.
In other Veracyte news, Chairman Bonnie H. Anderson sold 6,000 shares of Veracyte stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $10.20, for a total value of $61,200.00. Following the completion of the sale, the chairman now owns 58,541 shares in the company, valued at approximately $597,118.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bonnie H. Anderson sold 14,950 shares of Veracyte stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $11.50, for a total transaction of $171,925.00. Following the completion of the sale, the chief executive officer now owns 67,491 shares of the company’s stock, valued at approximately $776,146.50. The disclosure for this sale can be found here. Insiders sold a total of 556,950 shares of company stock valued at $6,070,125 in the last quarter. Corporate insiders own 13.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of VCYT. GSA Capital Partners LLP acquired a new stake in Veracyte in the 2nd quarter worth about $171,000. Bank of Montreal Can acquired a new position in shares of Veracyte in the 2nd quarter valued at approximately $182,000. Sigma Planning Corp acquired a new position in shares of Veracyte in the 2nd quarter valued at approximately $217,000. Engineers Gate Manager LP acquired a new position in shares of Veracyte in the 2nd quarter valued at approximately $231,000. Finally, Highland Capital Management LP raised its position in shares of Veracyte by 61.6% in the 2nd quarter. Highland Capital Management LP now owns 40,400 shares of the biotechnology company’s stock valued at $377,000 after buying an additional 15,400 shares in the last quarter. Institutional investors and hedge funds own 71.54% of the company’s stock.
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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