Segall Bryant & Hamill LLC Decreases Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Segall Bryant & Hamill LLC trimmed its position in shares of Veracyte, Inc. (NASDAQ:VCYT) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 433,874 shares of the biotechnology company’s stock after selling 10,425 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Veracyte were worth $17,181,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in VCYT. Intech Investment Management LLC acquired a new stake in shares of Veracyte in the third quarter valued at about $723,000. Massachusetts Financial Services Co. MA acquired a new stake in Veracyte in the 3rd quarter valued at about $324,000. Cerity Partners LLC purchased a new position in Veracyte in the 3rd quarter worth approximately $431,000. Daiwa Securities Group Inc. boosted its holdings in shares of Veracyte by 2,188.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,087 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 5,821 shares during the last quarter. Finally, FMR LLC grew its position in shares of Veracyte by 33.4% in the third quarter. FMR LLC now owns 65,977 shares of the biotechnology company’s stock valued at $2,246,000 after purchasing an additional 16,536 shares in the last quarter.

Veracyte Trading Up 1.6 %

Shares of NASDAQ VCYT opened at $33.69 on Wednesday. The stock has a fifty day simple moving average of $38.19 and a 200-day simple moving average of $37.78. Veracyte, Inc. has a twelve month low of $18.61 and a twelve month high of $47.32. The stock has a market capitalization of $2.63 billion, a PE ratio of -224.60 and a beta of 1.80.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on VCYT shares. Needham & Company LLC reissued a “buy” rating and set a $51.00 price objective on shares of Veracyte in a research note on Tuesday, February 25th. Guggenheim reissued a “buy” rating and issued a $45.00 price objective on shares of Veracyte in a report on Tuesday, February 25th. UBS Group lifted their target price on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Craig Hallum began coverage on shares of Veracyte in a research note on Thursday, March 20th. They issued a “buy” rating and a $45.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price target (down previously from $38.00) on shares of Veracyte in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Veracyte presently has an average rating of “Moderate Buy” and a consensus target price of $43.22.

Insider Buying and Selling at Veracyte

In other news, Director Karin Eastham sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total value of $403,000.00. Following the sale, the director now directly owns 18,497 shares in the company, valued at approximately $745,429.10. This trade represents a 35.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Veracyte Company Profile

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.