-$0.20 Earnings Per Share Expected for Veracyte, Inc. (VCYT) This Quarter

Analysts predict that Veracyte, Inc. (NASDAQ:VCYT) will report earnings of ($0.20) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Veracyte’s earnings, with the lowest EPS estimate coming in at ($0.24) and the highest estimate coming in at ($0.17). Veracyte reported earnings of ($0.14) per share during the same quarter last year, which suggests a negative year over year growth rate of 42.9%. The firm is scheduled to report its next earnings report on Wednesday, March 7th.

On average, analysts expect that Veracyte will report full year earnings of ($0.87) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.82). For the next financial year, analysts forecast that the business will post earnings of ($0.60) per share, with EPS estimates ranging from ($0.67) to ($0.55). Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Veracyte.

Veracyte (NASDAQ:VCYT) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.21) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.21). Veracyte had a negative net margin of 38.19% and a negative return on equity of 52.99%. The company had revenue of $17.50 million for the quarter, compared to analyst estimates of $19.54 million. During the same quarter last year, the firm posted ($0.20) earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year.

A number of equities analysts have recently commented on VCYT shares. Zacks Investment Research raised shares of Veracyte from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Janney Montgomery Scott lowered shares of Veracyte from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 7th. Piper Jaffray Companies lowered shares of Veracyte from an “overweight” rating to a “neutral” rating in a research report on Tuesday, November 7th. Leerink Swann dropped their price target on shares of Veracyte from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Finally, ValuEngine downgraded shares of Veracyte from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Veracyte presently has a consensus rating of “Hold” and an average target price of $11.85.

In other news, CEO Bonnie H. Anderson sold 6,000 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $9.09, for a total value of $54,540.00. Following the sale, the chief executive officer now owns 16,000 shares in the company, valued at $145,440. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Bonnie H. Anderson sold 16,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $9.41, for a total transaction of $150,560.00. Following the completion of the sale, the chairman now owns 16,000 shares in the company, valued at approximately $150,560. The disclosure for this sale can be found here. Company insiders own 13.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in VCYT. Schwab Charles Investment Management Inc. grew its stake in shares of Veracyte by 95.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 45,400 shares of the biotechnology company’s stock worth $379,000 after acquiring an additional 22,200 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Veracyte by 54.2% in the second quarter. Rhumbline Advisers now owns 24,749 shares of the biotechnology company’s stock worth $206,000 after acquiring an additional 8,702 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Veracyte in the second quarter worth $142,000. SG Americas Securities LLC acquired a new stake in shares of Veracyte in the second quarter worth $103,000. Finally, Bank of New York Mellon Corp boosted its stake in Veracyte by 18.4% during the second quarter. Bank of New York Mellon Corp now owns 72,616 shares of the biotechnology company’s stock worth $605,000 after buying an additional 11,304 shares in the last quarter. Institutional investors and hedge funds own 68.75% of the company’s stock.

Veracyte (VCYT) traded down $0.04 during trading hours on Monday, hitting $6.58. 68,966 shares of the stock were exchanged, compared to its average volume of 60,600. Veracyte has a 12 month low of $5.75 and a 12 month high of $9.80. The company has a market capitalization of $225.34, a price-to-earnings ratio of -8.12 and a beta of 1.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19.

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About Veracyte

Veracyte, Inc is a genomic diagnostics company. The Company uses genomic technology to resolve diagnostic ambiguity. It targets diseases in which patients undergo invasive diagnostic procedures. Its products combine genomic technology, clinical science and machine learning. The Company commercializes over three genomic tests, which are transforming the diagnosis of thyroid cancer, lung cancer and idiopathic pulmonary fibrosis.

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Earnings History and Estimates for Veracyte (NASDAQ:VCYT)

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