Veracyte (NASDAQ:VCYT) Posts Earnings Results, Beats Estimates By $0.19 EPS

Veracyte (NASDAQ:VCYT) announced its earnings results on Tuesday. The biotechnology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.19, Briefing.com reports. The company had revenue of $131.87 million during the quarter, compared to the consensus estimate of $124.62 million. Veracyte had a return on equity of 6.07% and a net margin of 5.50%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. Veracyte updated its FY 2025 guidance to EPS.

Veracyte Stock Performance

Shares of Veracyte stock opened at $46.04 on Thursday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 139.52 and a beta of 2.16. The stock has a 50 day moving average price of $34.12 and a 200-day moving average price of $29.94. Veracyte has a one year low of $22.61 and a one year high of $47.32.

Analyst Ratings Changes

VCYT has been the subject of a number of recent analyst reports. Needham & Company LLC upped their target price on Veracyte from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Veracyte in a research note on Wednesday, October 8th. Zacks Research raised Veracyte from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Guggenheim raised their target price on Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen raised Veracyte from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Insider Transactions at Veracyte

In other news, CEO Marc Stapley sold 7,667 shares of Veracyte stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $30.41, for a total value of $233,153.47. Following the completion of the transaction, the chief executive officer owned 334,185 shares in the company, valued at approximately $10,162,565.85. The trade was a 2.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Annie Mcguire sold 2,283 shares of Veracyte stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $33.69, for a total value of $76,914.27. Following the completion of the transaction, the senior vice president owned 91,599 shares of the company’s stock, valued at approximately $3,085,970.31. This trade represents a 2.43% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 18,299 shares of company stock worth $610,799. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veracyte

A number of institutional investors and hedge funds have recently modified their holdings of VCYT. Osaic Holdings Inc. boosted its holdings in shares of Veracyte by 289.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 893 shares during the period. Headlands Technologies LLC boosted its holdings in Veracyte by 74.8% during the 2nd quarter. Headlands Technologies LLC now owns 2,824 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 1,208 shares during the period. FORA Capital LLC purchased a new position in Veracyte during the 2nd quarter valued at $206,000. Oxford Asset Management LLP purchased a new position in Veracyte during the 2nd quarter valued at $285,000. Finally, E Fund Management Co. Ltd. boosted its holdings in Veracyte by 17.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 12,147 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 1,776 shares during the period.

About Veracyte

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.