Segall Bryant & Hamill LLC Purchases 57,137 Shares of Veracyte, Inc. $VCYT

Segall Bryant & Hamill LLC boosted its position in Veracyte, Inc. (NASDAQ:VCYT) by 12.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 533,432 shares of the biotechnology company’s stock after purchasing an additional 57,137 shares during the period. Segall Bryant & Hamill LLC’s holdings in Veracyte were worth $18,313,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Veracyte in the second quarter valued at approximately $25,000. First Horizon Corp bought a new position in shares of Veracyte during the 3rd quarter worth approximately $31,000. Osaic Holdings Inc. increased its holdings in shares of Veracyte by 289.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 893 shares during the last quarter. Headlands Technologies LLC raised its stake in Veracyte by 74.8% in the 2nd quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 1,208 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in Veracyte in the 3rd quarter valued at $107,000.

Insiders Place Their Bets

In related news, Director Karin Eastham sold 20,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director owned 13,554 shares of the company’s stock, valued at $616,029.30. This represents a 59.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Stapley sold 7,668 shares of Veracyte stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $47.09, for a total value of $361,086.12. Following the completion of the transaction, the chief executive officer directly owned 318,603 shares of the company’s stock, valued at $15,003,015.27. This represents a 2.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,385 shares of company stock valued at $2,483,179 in the last quarter. Company insiders own 1.40% of the company’s stock.

Veracyte Stock Performance

NASDAQ:VCYT opened at $35.08 on Wednesday. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71. The firm’s 50-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 price-to-earnings ratio of 42.27 and a beta of 1.91.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $135.79 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on VCYT. Guggenheim lifted 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 report on Wednesday, February 11th. UBS Group reiterated a “buy” rating on shares of Veracyte in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Finally, Canaccord Genuity Group upped their target price on Veracyte from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

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.