Loomis Sayles & Co. L P purchased a new position in Veracyte, Inc. (NASDAQ:VCYT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 409,702 shares of the biotechnology company's stock, valued at approximately $16,224,000. Loomis Sayles & Co. L P owned approximately 0.53% of Veracyte as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in shares of Veracyte by 49.7% in the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 237 shares in the last quarter. Arizona State Retirement System raised its stake in Veracyte by 1.2% in the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock valued at $882,000 after purchasing an additional 264 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock valued at $659,000 after purchasing an additional 305 shares in the last quarter. Principal Securities Inc. boosted its stake in Veracyte by 34.1% during the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 485 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company's stock worth $70,000 after buying an additional 647 shares in the last quarter.
Veracyte Stock Performance
Shares of NASDAQ VCYT traded down $0.98 during mid-day trading on Friday, reaching $30.12. 710,014 shares of the company's stock were exchanged, compared to its average volume of 835,914. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -200.80 and a beta of 1.80. Veracyte, Inc. has a 52-week low of $18.61 and a 52-week high of $47.32. The company's 50-day moving average is $37.57 and its 200-day moving average is $37.80.
Veracyte (NASDAQ:VCYT - Get Free Report) last announced its earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $118.63 million during the quarter, compared to analyst estimates of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter last year, the firm posted ($0.39) earnings per share. As a group, equities analysts predict that Veracyte, Inc. will post 0.68 earnings per share for the current fiscal year.
Insider Buying and Selling at Veracyte
In related news, Director Karin Eastham sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now owns 18,497 shares in the company, valued at approximately $745,429.10. The trade was a 35.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
VCYT has been the topic of a number of recent research reports. Craig Hallum assumed coverage on shares of Veracyte in a research report on Thursday, March 20th. They set a "buy" rating and a $45.00 price target on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $37.00 target price (down from $38.00) on shares of Veracyte in a report on Thursday, December 5th. Guggenheim reiterated a "buy" rating and set a $45.00 price objective on shares of Veracyte in a research report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and issued a $51.00 target price on shares of Veracyte in a report on Tuesday, February 25th. Finally, UBS Group lifted their price target on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Veracyte currently has a consensus rating of "Moderate Buy" and an average price target of $43.40.
Check Out Our Latest Stock Analysis on VCYT
Veracyte Company Profile
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Free Report)
Veracyte, Inc engages in the research, development and commercialization of diagnostic products. The firm's portfolio includes Afirma, Percepta, and Envisia. It intends to treat thyroid cancer, improve lung cancer screening, and clarify the diagnosis of idiopathic pulmonary fibrosis. The company was founded by Bonnie H.
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