Segall Bryant & Hamill LLC Increases Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Segall Bryant & Hamill LLC raised its stake in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 19.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,299 shares of the biotechnology company's stock after acquiring an additional 71,086 shares during the period. Segall Bryant & Hamill LLC owned about 0.58% of Veracyte worth $15,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VCYT. Point72 Asset Management L.P. purchased a new position in Veracyte in the second quarter worth $12,279,000. William Blair Investment Management LLC increased its holdings in Veracyte by 67.4% during the second quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock worth $26,907,000 after buying an additional 500,020 shares during the last quarter. Bamco Inc. NY boosted its stake in Veracyte by 46.3% in the first quarter. Bamco Inc. NY now owns 1,115,806 shares of the biotechnology company's stock valued at $24,726,000 after acquiring an additional 353,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Veracyte by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock worth $163,649,000 after purchasing an additional 266,660 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Veracyte in the 3rd quarter worth approximately $4,681,000.

Veracyte Trading Up 0.1 %

VCYT opened at $39.20 on Thursday. The stock has a market capitalization of $3.04 billion, a P/E ratio of -261.33 and a beta of 1.67. The stock has a 50-day moving average price of $34.40 and a 200-day moving average price of $27.96. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $41.43.

Veracyte (NASDAQ:VCYT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The firm had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. During the same period last year, the firm posted ($0.03) earnings per share. The business's revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts predict that Veracyte, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on VCYT. Leerink Partners raised their target price on Veracyte from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Wolfe Research started coverage on Veracyte in a research note on Friday, November 15th. They issued an "outperform" rating and a $50.00 price objective on the stock. Needham & Company LLC increased their target price on shares of Veracyte from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Scotiabank lifted their target price on shares of Veracyte from $40.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Veracyte from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Insider Transactions at Veracyte

In other Veracyte news, insider John Leite sold 5,479 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $29.78, for a total value of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. The trade was a 6.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Evan/ Fa Jones sold 5,173 shares of Veracyte stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the transaction, the director now directly owns 34,343 shares in the company, valued at approximately $1,209,903.89. The trade was a 13.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.