Veracyte, Inc. (NASDAQ:VCYT - Get Free Report) Director Karin Eastham sold 20,000 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $45.45, for a total value of $909,000.00. Following the sale, the director directly owned 13,554 shares in the company, valued at $616,029.30. This represents a 59.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Karin Eastham also recently made the following trade(s):
- On Wednesday, November 5th, Karin Eastham sold 9,674 shares of Veracyte stock. The shares were sold at an average price of $40.02, for a total value of $387,153.48.
Veracyte Stock Down 0.6%
Shares of VCYT opened at $44.36 on Tuesday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 116.74 and a beta of 1.82. Veracyte, Inc. has a 52 week low of $22.61 and a 52 week high of $50.71. The stock's 50-day moving average price is $39.54 and its 200-day moving average price is $32.16.
Veracyte (NASDAQ:VCYT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.19. Veracyte had a return on equity of 7.23% and a net margin of 6.12%.The company had revenue of $131.87 million during the quarter, compared to the consensus estimate of $124.62 million. During the same period in the previous year, the company posted $0.33 earnings per share. Veracyte's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
VCYT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Veracyte in a report on Monday, December 1st. Morgan Stanley raised their target price on Veracyte from $40.00 to $48.00 and gave the company an "underweight" rating in a research report on Monday, December 1st. Zacks Research upgraded Veracyte from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Guggenheim increased their price target on Veracyte from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, November 5th. Finally, UBS Group raised their price objective on Veracyte from $42.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.43.
View Our Latest Analysis on Veracyte
Hedge Funds Weigh In On Veracyte
A number of hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. increased its position in Veracyte by 178.4% during the second quarter. Prudential Financial Inc. now owns 37,118 shares of the biotechnology company's stock worth $1,003,000 after purchasing an additional 23,785 shares during the last quarter. AlphaQuest LLC boosted its holdings in Veracyte by 1,279.9% in the 2nd quarter. AlphaQuest LLC now owns 8,031 shares of the biotechnology company's stock valued at $217,000 after purchasing an additional 7,449 shares during the last quarter. Strs Ohio purchased a new stake in shares of Veracyte in the 1st quarter valued at approximately $848,000. Assenagon Asset Management S.A. increased its holdings in shares of Veracyte by 70.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 830,099 shares of the biotechnology company's stock worth $22,438,000 after buying an additional 342,038 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Veracyte by 79.7% during the 1st quarter. Voya Investment Management LLC now owns 41,452 shares of the biotechnology company's stock valued at $1,229,000 after buying an additional 18,386 shares during the period.
Veracyte Company Profile
(
Get 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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