Equities analysts expect Veracyte Inc (NASDAQ:VCYT) to announce $29.35 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Veracyte’s earnings. The lowest sales estimate is $28.96 million and the highest is $29.80 million. Veracyte posted sales of $25.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 14%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 24th.

On average, analysts expect that Veracyte will report full-year sales of $120.00 million for the current financial year, with estimates ranging from $119.60 million to $120.40 million. For the next financial year, analysts expect that the firm will report sales of $139.31 million, with estimates ranging from $130.80 million to $146.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Veracyte.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. Veracyte had a negative net margin of 7.08% and a negative return on equity of 5.33%. The company had revenue of $30.97 million for the quarter, compared to the consensus estimate of $30.41 million.

VCYT has been the topic of several research reports. ValuEngine upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Lake Street Capital reiterated a “buy” rating and issued a $35.00 price target on shares of Veracyte in a report on Wednesday, December 4th. Zacks Investment Research downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of Veracyte in a report on Wednesday, December 4th. Finally, BidaskClub upgraded shares of Veracyte from a “sell” rating to a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Veracyte has an average rating of “Hold” and a consensus price target of $32.67.

In other news, CFO Keith Kennedy sold 1,243 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $28.00, for a total transaction of $34,804.00. Following the sale, the chief financial officer now owns 111,286 shares of the company’s stock, valued at approximately $3,116,008. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan/ Fa Jones sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $28.50, for a total transaction of $142,500.00. Following the sale, the director now directly owns 25,000 shares in the company, valued at approximately $712,500. The disclosure for this sale can be found here. Insiders have sold a total of 146,886 shares of company stock worth $4,015,594 in the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VCYT. JPMorgan Chase & Co. grew its stake in shares of Veracyte by 85.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,796 shares of the biotechnology company’s stock worth $339,000 after purchasing an additional 5,893 shares during the period. Bank of Montreal Can grew its stake in shares of Veracyte by 291.1% during the 2nd quarter. Bank of Montreal Can now owns 54,413 shares of the biotechnology company’s stock worth $1,551,000 after purchasing an additional 40,500 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Veracyte by 33.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 221,763 shares of the biotechnology company’s stock worth $6,323,000 after purchasing an additional 55,652 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Veracyte by 89.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 287,157 shares of the biotechnology company’s stock worth $8,186,000 after purchasing an additional 135,902 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Veracyte by 15.5% during the 2nd quarter. Renaissance Technologies LLC now owns 525,500 shares of the biotechnology company’s stock worth $14,982,000 after purchasing an additional 70,700 shares during the period.

NASDAQ:VCYT traded down $0.02 during midday trading on Tuesday, hitting $30.15. The company’s stock had a trading volume of 344,843 shares, compared to its average volume of 424,416. Veracyte has a fifty-two week low of $16.31 and a fifty-two week high of $31.18. The firm’s 50 day moving average is $28.54 and its 200-day moving average is $26.47. The firm has a market cap of $1.47 billion, a P/E ratio of -150.74 and a beta of 1.19.

Veracyte Company Profile

Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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