Raymond James Financial Inc. Acquires Shares of 41,064 Veracyte, Inc. (NASDAQ:VCYT)

Raymond James Financial Inc. bought a new position in shares of Veracyte, Inc. (NASDAQ:VCYT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,064 shares of the biotechnology company’s stock, valued at approximately $1,626,000. Raymond James Financial Inc. owned 0.05% of Veracyte as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Artisan Partners Limited Partnership boosted its holdings in shares of Veracyte by 31.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,599,264 shares of the biotechnology company’s stock worth $261,331,000 after acquiring an additional 1,576,432 shares during the period. Vanguard Group Inc. lifted its holdings in Veracyte by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 8,211,612 shares of the biotechnology company’s stock worth $325,180,000 after purchasing an additional 463,098 shares in the last quarter. Jennison Associates LLC boosted its stake in Veracyte by 116.3% in the 4th quarter. Jennison Associates LLC now owns 833,754 shares of the biotechnology company’s stock worth $33,017,000 after purchasing an additional 448,251 shares during the period. Loomis Sayles & Co. L P purchased a new position in Veracyte during the 4th quarter valued at about $16,224,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Veracyte by 134.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 635,110 shares of the biotechnology company’s stock valued at $25,150,000 after buying an additional 363,862 shares during the period.

Veracyte Trading Up 2.2 %

Shares of NASDAQ VCYT opened at $30.35 on Friday. The stock’s 50-day moving average is $31.42 and its 200 day moving average is $37.20. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -202.33 and a beta of 2.03. Veracyte, Inc. has a 1-year low of $19.73 and a 1-year high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings results on Monday, February 24th. The biotechnology company reported $0.36 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $118.63 million for the quarter, compared to the consensus estimate of $110.73 million. During the same period last year, the firm posted ($0.39) earnings per share. On average, analysts forecast that Veracyte, Inc. will post 0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VCYT has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of Veracyte from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Guggenheim decreased their price target on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Craig Hallum assumed coverage on Veracyte in a research report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price objective on the stock. StockNews.com cut Veracyte from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Stephens reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Veracyte in a report on Wednesday, March 26th. One research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.60.

Veracyte 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.