Analysts Expect Veracyte, Inc. (VCYT) to Post -$0.20 Earnings Per Share

Wall Street analysts predict that Veracyte, Inc. (NASDAQ:VCYT) will post earnings of ($0.20) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Veracyte’s earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.17). Veracyte posted earnings of ($0.14) per share during the same quarter last year, which suggests a negative year over year growth rate of 42.9%. The business is expected to report its next quarterly earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Veracyte will report full year earnings of ($0.87) per share for the current financial year, with EPS estimates ranging from ($0.91) to ($0.82). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.60) per share, with EPS estimates ranging from ($0.67) to ($0.55). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Veracyte.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.21) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). Veracyte had a negative return on equity of 52.99% and a negative net margin of 38.19%. The business had revenue of $17.50 million for the quarter, compared to analyst estimates of $19.54 million. During the same quarter in the prior year, the firm posted ($0.20) EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year.

Several equities research analysts have commented on VCYT shares. Zacks Investment Research lowered Veracyte from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Piper Jaffray Companies reiterated a “buy” rating on shares of Veracyte in a research report on Tuesday, September 12th. BTIG Research reiterated a “buy” rating and set a $13.00 target price on shares of Veracyte in a research report on Thursday, August 31st. Leerink Swann decreased their target price on Veracyte from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Finally, Janney Montgomery Scott lowered Veracyte from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $11.85.

In related news, Chairman Bonnie H. Anderson sold 6,000 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $8.44, for a total value of $50,640.00. Following the completion of the transaction, the chairman now directly owns 16,000 shares of the company’s stock, valued at approximately $135,040. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher M. Hall sold 20,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $9.00, for a total value of $180,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,000 shares of company stock worth $435,740 in the last quarter. Insiders own 13.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ark Investment Management LLC raised its stake in Veracyte by 172.3% in the 2nd quarter. Ark Investment Management LLC now owns 163,020 shares of the biotechnology company’s stock valued at $1,358,000 after purchasing an additional 103,157 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Veracyte by 46.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,358 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 29,406 shares during the last quarter. Perkins Capital Management Inc. acquired a new position in Veracyte in the 3rd quarter valued at $546,000. Essex Investment Management Co. LLC acquired a new position in Veracyte in the 3rd quarter valued at $1,615,000. Finally, Vanguard Group Inc. raised its stake in Veracyte by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 825,860 shares of the biotechnology company’s stock valued at $7,581,000 after purchasing an additional 34,966 shares during the last quarter. 69.23% of the stock is owned by hedge funds and other institutional investors.

Veracyte (NASDAQ VCYT) traded down $0.28 during trading on Tuesday, reaching $6.35. The company’s stock had a trading volume of 289,123 shares, compared to its average volume of 130,208. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19. Veracyte has a 1-year low of $5.75 and a 1-year high of $9.80.

COPYRIGHT VIOLATION WARNING: “Analysts Expect Veracyte, Inc. (VCYT) to Post -$0.20 Earnings Per Share” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/12/05/analysts-expect-veracyte-inc-vcyt-to-post-0-20-earnings-per-share.html.

About Veracyte

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

Get a free copy of the Zacks research report on Veracyte (VCYT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

Receive News & Ratings for Veracyte Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veracyte Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply