-$0.22 EPS Expected for Veracyte Inc (NASDAQ:VCYT) This Quarter

Wall Street brokerages expect Veracyte Inc (NASDAQ:VCYT) to post ($0.22) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Veracyte’s earnings, with the lowest EPS estimate coming in at ($0.24) and the highest estimate coming in at ($0.19). Veracyte posted earnings per share of ($0.05) in the same quarter last year, which would indicate a negative year over year growth rate of 340%. The business is expected to issue its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Veracyte will report full year earnings of ($0.67) per share for the current fiscal year, with EPS estimates ranging from ($0.68) to ($0.66). For the next financial year, analysts forecast that the business will report earnings of ($0.36) per share, with EPS estimates ranging from ($0.45) to ($0.26). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Veracyte.

Veracyte (NASDAQ:VCYT) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.06). The business had revenue of $31.12 million for the quarter, compared to analysts’ expectations of $30.31 million. Veracyte had a negative return on equity of 9.68% and a negative net margin of 18.36%.

A number of brokerages have issued reports on VCYT. BidaskClub downgraded Veracyte from a “buy” rating to a “hold” rating in a report on Thursday, May 21st. Zacks Investment Research upgraded Veracyte from a “sell” rating to a “hold” rating in a research report on Friday, April 10th. ValuEngine upgraded Veracyte from a “hold” rating to a “buy” rating in a research report on Tuesday, March 17th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Veracyte in a research report on Thursday, May 7th. Finally, SVB Leerink lifted their target price on Veracyte from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Veracyte currently has an average rating of “Buy” and a consensus target price of $31.50.

In related news, CEO Bonnie H. Anderson sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $26.67, for a total value of $533,400.00. Following the transaction, the chief executive officer now owns 274,183 shares in the company, valued at approximately $7,312,460.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. acquired a new position in Veracyte in the 4th quarter valued at about $32,000. Advisor Group Holdings Inc. acquired a new position in Veracyte in the 1st quarter valued at about $51,000. FMR LLC acquired a new position in Veracyte in the 4th quarter valued at about $82,000. Mark Sheptoff Financial Planning LLC increased its position in Veracyte by 209.1% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 3,400 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 2,300 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new position in Veracyte in the 4th quarter valued at about $98,000.

NASDAQ VCYT traded down $1.34 during trading on Friday, reaching $23.06. 858,320 shares of the company’s stock were exchanged, compared to its average volume of 421,213. The stock has a market cap of $1.22 billion, a P/E ratio of -50.13 and a beta of 0.83. The company has a 50 day moving average price of $25.79 and a two-hundred day moving average price of $25.55. Veracyte has a 1 year low of $13.90 and a 1 year high of $31.18.

Veracyte Company Profile

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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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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