Wall Street brokerages forecast that Veracyte Inc (NASDAQ:VCYT) will report $18.84 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Veracyte’s earnings. The highest sales estimate is $19.00 million and the lowest is $18.62 million. Veracyte reported sales of $18.26 million in the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The business is scheduled to report its next quarterly earnings report on Wednesday, March 7th.
On average, analysts expect that Veracyte will report full-year sales of $18.84 million for the current year. For the next financial year, analysts anticipate that the firm will report sales of $84.61 million per share, with estimates ranging from $83.00 million to $85.46 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Veracyte.
Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.21) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.21). The business had revenue of $17.50 million during the quarter, compared to analysts’ expectations of $19.54 million. Veracyte had a negative return on equity of 52.99% and a negative net margin of 38.19%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.20) earnings per share.
Shares of Veracyte (NASDAQ VCYT) opened at $6.95 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.86 and a current ratio of 5.19. Veracyte has a 12-month low of $5.75 and a 12-month high of $9.80. The company has a market capitalization of $237.26, a P/E ratio of -8.58 and a beta of 1.75.
Several institutional investors and hedge funds have recently modified their holdings of the stock. First Manhattan Co. purchased a new stake in shares of Veracyte during the fourth quarter worth approximately $1,780,000. Algert Global LLC increased its position in shares of Veracyte by 68.0% during the third quarter. Algert Global LLC now owns 110,909 shares of the biotechnology company’s stock worth $973,000 after purchasing an additional 44,910 shares in the last quarter. OxFORD Asset Management LLP increased its position in shares of Veracyte by 92.4% during the third quarter. OxFORD Asset Management LLP now owns 80,727 shares of the biotechnology company’s stock worth $699,000 after purchasing an additional 38,780 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Veracyte by 258.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 162,562 shares of the biotechnology company’s stock worth $1,426,000 after purchasing an additional 117,162 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Veracyte by 47.5% during the third quarter. Wells Fargo & Company MN now owns 27,655 shares of the biotechnology company’s stock worth $243,000 after buying an additional 8,903 shares during the last quarter. Hedge funds and other institutional investors own 68.75% of the company’s stock.
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Veracyte Company Profile
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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