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

Segall Bryant & Hamill LLC reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 433,874 shares of the biotechnology company’s stock after selling 10,425 shares during the quarter. Segall Bryant & Hamill LLC owned 0.56% of Veracyte worth $17,181,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Veracyte by 49.7% during the fourth quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 237 shares during the last quarter. US Bancorp DE boosted its stake in Veracyte by 57.4% in the fourth quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 647 shares in the last quarter. Principal Securities Inc. grew its holdings in Veracyte by 34.1% in 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 last quarter. Venturi Wealth Management LLC acquired a new position in shares of Veracyte during the fourth quarter worth $91,000. Finally, Bellevue Group AG purchased a new stake in shares of Veracyte during the 3rd quarter valued at $123,000.

Veracyte Stock Up 1.6 %

Shares of VCYT opened at $33.69 on Wednesday. The stock’s 50-day moving average price is $38.19 and its 200-day moving average price is $37.78. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -224.60 and a beta of 1.80. Veracyte, Inc. has a 52 week low of $18.61 and a 52 week high of $47.32.

Veracyte (NASDAQ:VCYT) last issued its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 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 business had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. During the same quarter last year, the company earned ($0.39) EPS. As a group, equities analysts anticipate that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Karin Eastham sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $40.30, for a total transaction of $403,000.00. Following the sale, the director now directly owns 18,497 shares in the company, valued at $745,429.10. This trade represents a 35.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on VCYT shares. Guggenheim reiterated a “buy” rating and issued a $45.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 target price (down from $38.00) on shares of Veracyte in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating and set a $51.00 price target on shares of Veracyte in a research note on Tuesday, February 25th. StockNews.com downgraded shares of Veracyte from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, UBS Group upped their target price on Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.22.

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.