Zacks: Analysts Anticipate Veracyte Inc (VCYT) to Post -$0.24 EPS
Equities research analysts expect Veracyte Inc (NASDAQ:VCYT) to report earnings of ($0.24) per share for the current quarter, according to Zacks. Three analysts have made estimates for Veracyte’s earnings. The lowest EPS estimate is ($0.28) and the highest is ($0.22). Veracyte reported earnings per share of ($0.21) in the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The company is scheduled to report its next quarterly earnings results on Monday, November 5th.
On average, analysts expect that Veracyte will report full-year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($0.96) to ($0.85). For the next financial year, analysts expect that the firm will post earnings of ($0.60) per share, with EPS estimates ranging from ($0.72) to ($0.50). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Veracyte.
Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, July 23rd. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. Veracyte had a negative return on equity of 91.03% and a negative net margin of 38.69%. The firm had revenue of $22.75 million during the quarter, compared to the consensus estimate of $20.67 million.
NASDAQ VCYT traded up $0.32 during mid-day trading on Wednesday, hitting $10.50. The stock had a trading volume of 14,762 shares, compared to its average volume of 217,533. Veracyte has a 52-week low of $5.23 and a 52-week high of $12.86. The company has a market capitalization of $329.79 million, a P/E ratio of -11.11 and a beta of 1.83. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 3.71.
In other Veracyte news, CEO Bonnie H. Anderson sold 14,950 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 67,491 shares of the company’s stock, valued at $776,146.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher M. Hall sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $12.00, for a total value of $240,000.00. Following the transaction, the insider now directly owns 36,692 shares of the company’s stock, valued at approximately $440,304. 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 over the last ninety days. 13.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Versant Venture Management LLC purchased a new position in Veracyte during the third quarter worth $34,535,000. Millennium Management LLC increased its position in Veracyte by 18.8% during the second quarter. Millennium Management LLC now owns 861,836 shares of the biotechnology company’s stock worth $8,050,000 after buying an additional 136,096 shares in the last quarter. Quantum Capital Management increased its position in Veracyte by 147.7% during the second quarter. Quantum Capital Management now owns 191,046 shares of the biotechnology company’s stock worth $1,784,000 after buying an additional 113,930 shares in the last quarter. First Light Asset Management LLC increased its position in Veracyte by 3.8% during the second quarter. First Light Asset Management LLC now owns 881,983 shares of the biotechnology company’s stock worth $8,238,000 after buying an additional 32,417 shares in the last quarter. Finally, Highland Capital Management LP increased its position in Veracyte by 61.6% during the second quarter. Highland Capital Management LP now owns 40,400 shares of the biotechnology company’s stock worth $377,000 after buying an additional 15,400 shares in the last quarter. 71.54% of the stock is owned by institutional investors.
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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