Northern Trust Corp Boosts Position in Veracyte, Inc. (NASDAQ:VCYT)

Northern Trust Corp lifted its holdings in Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,069,187 shares of the biotechnology company's stock after buying an additional 120,752 shares during the period. Northern Trust Corp owned about 1.38% of Veracyte worth $42,340,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew 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 valued at $28,000 after purchasing an additional 237 shares during the last quarter. Arizona State Retirement System grew its stake in Veracyte by 1.2% in the 4th quarter. Arizona State Retirement System now owns 22,276 shares of the biotechnology company's stock worth $882,000 after acquiring an additional 264 shares in the last quarter. Synovus Financial Corp grew its stake in Veracyte by 1.2% in the 4th quarter. Synovus Financial Corp now owns 23,132 shares of the biotechnology company's stock worth $916,000 after acquiring an additional 267 shares in the last quarter. HighTower Advisors LLC grew its stake in Veracyte by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 16,630 shares of the biotechnology company's stock worth $659,000 after acquiring an additional 305 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Veracyte by 34.1% in the 4th quarter. Principal Securities Inc. now owns 1,909 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 485 shares in the last quarter.

Veracyte Stock Performance

Shares of NASDAQ:VCYT traded up $1.05 during trading hours on Monday, reaching $30.76. The stock had a trading volume of 1,081,029 shares, compared to its average volume of 885,577. The firm's 50 day moving average is $31.05 and its 200-day moving average is $37.15. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -205.07 and a beta of 2.14. Veracyte, Inc. has a 1 year low of $19.73 and a 1 year high of $47.32.

Veracyte (NASDAQ:VCYT - Get Free Report) last issued 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. The firm had revenue of $118.63 million during the quarter, compared to analysts' expectations of $110.73 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. During the same quarter in the prior year, the business earned ($0.39) EPS. Analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Craig Hallum assumed coverage on shares of Veracyte in a research note on Thursday, March 20th. They set a "buy" rating and a $45.00 price objective on the stock. Guggenheim dropped their price objective on shares of Veracyte from $45.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. StockNews.com downgraded shares of Veracyte from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. 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 research note on Thursday. Finally, Stephens restated an "overweight" rating and issued a $45.00 target price on shares of Veracyte in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Veracyte presently has an average rating of "Moderate Buy" and a consensus price target of $40.90.

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.