Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC decreased its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,301 shares of the biotechnology company’s stock after selling 28,959 shares during the period. Parkman Healthcare Partners LLC’s holdings in Veracyte were worth $3,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in Veracyte by 49.7% during the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after buying an additional 237 shares in the last quarter. US Bancorp DE lifted its position in Veracyte by 57.4% during the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 647 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Veracyte by 34.1% during the fourth quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 485 shares during the period. Venturi Wealth Management LLC bought a new position in Veracyte in the fourth quarter valued at approximately $91,000. Finally, Sterling Capital Management LLC grew its stake in shares of Veracyte by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock worth $96,000 after buying an additional 2,155 shares during the last quarter.

Veracyte Price Performance

VCYT stock opened at $29.31 on Wednesday. Veracyte, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $47.32. The stock has a market capitalization of $2.30 billion, a P/E ratio of -195.40 and a beta of 2.14. The business has a 50-day moving average of $31.00 and a 200-day moving average of $37.13.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period in the prior year, the business earned ($0.39) EPS. Equities analysts expect that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VCYT shares. UBS Group dropped their price objective on shares of Veracyte from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Guggenheim lowered their price objective on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. Craig Hallum assumed coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, StockNews.com lowered shares of Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.90.

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.