Wall Street analysts expect Veracyte Inc (NASDAQ:VCYT) to post $17.56 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Veracyte’s earnings. The highest sales estimate is $19.22 million and the lowest is $15.90 million. Veracyte posted sales of $30.14 million during the same quarter last year, which suggests a negative year over year growth rate of 41.7%. The company is expected to announce its next quarterly earnings results on Tuesday, August 4th.
According to Zacks, analysts expect that Veracyte will report full year sales of $99.69 million for the current financial year, with estimates ranging from $98.50 million to $100.88 million. For the next financial year, analysts forecast that the firm will report sales of $151.46 million, with estimates ranging from $147.40 million to $155.51 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Veracyte.
Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.06). The business had revenue of $31.12 million during the quarter, compared to analyst estimates of $30.31 million. Veracyte had a negative net margin of 18.36% and a negative return on equity of 9.68%.
In other news, CEO Bonnie H. Anderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $26.56, for a total transaction of $531,200.00. Following the completion of the sale, the chief executive officer now owns 292,207 shares of the company’s stock, valued at $7,761,017.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Veracyte by 26.0% during the first quarter. Wellington Management Group LLP now owns 971,802 shares of the biotechnology company’s stock worth $23,625,000 after buying an additional 200,699 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Veracyte by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 654,048 shares of the biotechnology company’s stock worth $15,900,000 after purchasing an additional 15,736 shares during the last quarter. Algert Global LLC bought a new position in Veracyte during the fourth quarter worth $259,000. UBS Group AG lifted its stake in Veracyte by 171.3% during the first quarter. UBS Group AG now owns 60,136 shares of the biotechnology company’s stock worth $1,462,000 after purchasing an additional 37,969 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Veracyte by 241.3% during the fourth quarter. Bank of Montreal Can now owns 183,103 shares of the biotechnology company’s stock worth $5,112,000 after purchasing an additional 129,448 shares during the last quarter.
NASDAQ:VCYT traded down $1.34 on Monday, reaching $23.06. The stock had a trading volume of 889,300 shares, compared to its average volume of 484,235. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -50.13 and a beta of 0.83. The firm’s fifty day moving average is $25.79 and its two-hundred day moving average is $25.55. Veracyte has a 12-month low of $13.90 and a 12-month high of $31.18.
Veracyte, Inc operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis.
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