Segall Bryant & Hamill LLC decreased its stake in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 433,874 shares of the biotechnology company's stock after selling 10,425 shares during the quarter. Segall Bryant & Hamill LLC owned 0.56% of Veracyte worth $17,181,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Veracyte by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company's stock worth $325,180,000 after buying an additional 463,098 shares during the period. State Street Corp lifted its position in shares of Veracyte by 0.3% in the 3rd quarter. State Street Corp now owns 2,916,515 shares of the biotechnology company's stock valued at $99,278,000 after acquiring an additional 7,920 shares in the last quarter. Geode Capital Management LLC boosted its stake in Veracyte by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,844,713 shares of the biotechnology company's stock worth $62,806,000 after purchasing an additional 17,921 shares during the period. Jennison Associates LLC grew its position in Veracyte by 116.3% during the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company's stock worth $33,017,000 after purchasing an additional 448,251 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Veracyte by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 785,971 shares of the biotechnology company's stock valued at $31,124,000 after purchasing an additional 3,111 shares during the period.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $37.00 target price (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. UBS Group raised their price objective on Veracyte from $46.00 to $49.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Guggenheim reiterated a "buy" rating and issued a $45.00 target price on shares of Veracyte in a report on Tuesday, February 25th. StockNews.com lowered shares of Veracyte from a "buy" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Stephens reaffirmed an "overweight" rating and set a $45.00 price objective on shares of Veracyte in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.40.
Check Out Our Latest Research Report on Veracyte
Veracyte Price Performance
VCYT traded down $0.98 during midday trading on Friday, hitting $30.12. 710,014 shares of the company's stock traded hands, compared to its average volume of 835,914. The company has a market cap of $2.35 billion, a PE ratio of -200.80 and a beta of 1.80. The stock's fifty day simple moving average is $37.57 and its 200-day simple moving average is $37.80. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32.
Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same quarter last year, the firm earned ($0.39) EPS. On average, research analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.
Insider Buying and Selling at Veracyte
In other news, Director Karin Eastham sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the transaction, the director now owns 18,497 shares of the company's stock, valued at approximately $745,429.10. This represents a 35.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.
Veracyte 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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