Fisher Asset Management LLC Reduces Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Fisher Asset Management LLC trimmed its position in Veracyte, Inc. (NASDAQ:VCYT) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 877,760 shares of the biotechnology company’s stock after selling 12,047 shares during the quarter. Fisher Asset Management LLC owned about 1.13% of Veracyte worth $29,879,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of VCYT. Vanguard Group Inc. increased its holdings in Veracyte by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company’s stock worth $163,649,000 after buying an additional 266,660 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Veracyte by 6.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 8,198 shares of the biotechnology company’s stock worth $182,000 after acquiring an additional 530 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Veracyte by 105.6% during the first quarter. Lazard Asset Management LLC now owns 6,368 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 3,271 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Veracyte by 11.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,041 shares of the biotechnology company’s stock valued at $910,000 after purchasing an additional 4,256 shares during the period. Finally, Burney Co. boosted its holdings in Veracyte by 38.0% in the first quarter. Burney Co. now owns 26,063 shares of the biotechnology company’s stock valued at $578,000 after purchasing an additional 7,176 shares during the last quarter.

Veracyte Stock Performance

Shares of NASDAQ VCYT opened at $42.84 on Wednesday. The firm has a fifty day moving average of $35.21 and a 200 day moving average of $28.65. The firm has a market cap of $3.32 billion, a PE ratio of -285.60 and a beta of 1.67. Veracyte, Inc. has a one year low of $18.61 and a one year high of $42.86.

Veracyte (NASDAQ:VCYT) last announced its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.16. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The business had revenue of $115.86 million for the quarter, compared to analyst estimates of $109.81 million. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. On average, equities analysts predict that Veracyte, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VCYT shares. The Goldman Sachs Group boosted their price objective on Veracyte from $34.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wolfe Research started coverage on Veracyte in a research report on Friday, November 15th. They set an “outperform” rating and a $50.00 price target for the company. Needham & Company LLC upped their price objective on Veracyte from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Guggenheim assumed coverage on shares of Veracyte in a research note on Thursday, October 10th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of Veracyte from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Veracyte presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Insider Buying and Selling at Veracyte

In related news, Director Evan/ Fa Jones sold 5,173 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now directly owns 34,343 shares in the company, valued at approximately $1,209,903.89. The trade was a 13.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Leite sold 5,479 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the completion of the sale, the insider now owns 76,174 shares of the company’s stock, valued at approximately $2,268,461.72. The trade was a 6.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.