Diversified Trust Co Has $757,000 Position in Veracyte, Inc. $VCYT

Diversified Trust Co increased its stake in shares of Veracyte, Inc. (NASDAQ:VCYT) by 148.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,065 shares of the biotechnology company’s stock after acquiring an additional 13,196 shares during the quarter. Diversified Trust Co’s holdings in Veracyte were worth $757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VCYT. California State Teachers Retirement System raised its holdings in shares of Veracyte by 0.8% during the second quarter. California State Teachers Retirement System now owns 71,095 shares of the biotechnology company’s stock valued at $1,922,000 after purchasing an additional 566 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in Veracyte by 4.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,991 shares of the biotechnology company’s stock valued at $486,000 after buying an additional 790 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Veracyte by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 22,732 shares of the biotechnology company’s stock worth $614,000 after buying an additional 865 shares during the period. Huntleigh Advisors Inc. boosted its holdings in Veracyte by 4.2% in the second quarter. Huntleigh Advisors Inc. now owns 21,809 shares of the biotechnology company’s stock worth $590,000 after acquiring an additional 876 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Veracyte by 289.9% in the second quarter. Osaic Holdings Inc. now owns 1,201 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 893 shares in the last quarter.

Veracyte Stock Performance

Veracyte stock opened at $42.10 on Friday. Veracyte, Inc. has a fifty-two week low of $22.61 and a fifty-two week high of $50.71. The firm’s 50-day simple moving average is $42.23 and its 200 day simple moving average is $34.04. The stock has a market cap of $3.33 billion, a PE ratio of 110.79 and a beta of 1.88.

Veracyte (NASDAQ:VCYT) last posted its earnings results on Tuesday, November 4th. The biotechnology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.32 by $0.19. Veracyte had a net margin of 6.12% and a return on equity of 7.23%. The firm had revenue of $131.87 million for the quarter, compared to analysts’ expectations of $124.62 million. During the same quarter last year, the firm earned $0.33 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VCYT shares. UBS Group upped their target price on Veracyte from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Veracyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 27th. Zacks Research raised shares of Veracyte from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Morgan Stanley lifted their price objective on shares of Veracyte from $40.00 to $48.00 and gave the company an “underweight” rating in a report on Monday, December 1st. Finally, Guggenheim upped their target price on shares of Veracyte from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.43.

Insider Transactions at Veracyte

In other news, Director Karin Eastham sold 20,000 shares of Veracyte stock in a transaction on Friday, December 5th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director directly owned 13,554 shares in the company, valued at $616,029.30. The trade was a 59.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jens Holstein sold 10,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $42.36, for a total transaction of $423,600.00. Following the transaction, the director owned 27,199 shares of the company’s stock, valued at approximately $1,152,149.64. The trade was a 26.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 142,984 shares of company stock worth $6,282,692. Company insiders own 1.40% of the company’s stock.

Veracyte Company Profile

Veracyte, Inc is a genomic diagnostics company focused on improving diagnostic accuracy and patient care through advanced molecular testing. Founded in 2008 and headquartered in South San Francisco, California, the company develops and commercializes minimally invasive genomic tests that aid in the diagnosis of thyroid, lung and other diseases. Veracyte’s proprietary platform analyzes gene expression patterns in clinical samples to help physicians make more informed treatment decisions, reducing unnecessary surgeries and improving patient outcomes.

The company’s flagship product, the Afirma Genomic Sequencing Classifier, is designed to assess thyroid nodules with indeterminate cytology, helping clinicians distinguish benign from suspicious nodules.