Parkman Healthcare Partners LLC Has $4.40 Million Stock Position in Veracyte, Inc. (NASDAQ:VCYT)

Parkman Healthcare Partners LLC reduced its position in Veracyte, Inc. (NASDAQ:VCYT) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,260 shares of the biotechnology company’s stock after selling 80,215 shares during the period. Parkman Healthcare Partners LLC’s holdings in Veracyte were worth $4,400,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in Veracyte by 2,331.6% in the second quarter. Blue Trust Inc. now owns 1,386 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 1,329 shares during the last quarter. CWM LLC raised its holdings in shares of Veracyte by 168.3% during the 2nd quarter. CWM LLC now owns 1,516 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 951 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of Veracyte in the 3rd quarter valued at $87,000. Values First Advisors Inc. bought a new stake in Veracyte in the third quarter worth $91,000. Finally, KBC Group NV increased its position in Veracyte by 13.7% during the third quarter. KBC Group NV now owns 2,677 shares of the biotechnology company’s stock worth $91,000 after buying an additional 323 shares during the last quarter.

Veracyte Stock Performance

Shares of VCYT opened at $43.66 on Wednesday. The stock’s 50-day moving average price is $36.10 and its 200 day moving average price is $29.36. Veracyte, Inc. has a 12-month low of $18.61 and a 12-month high of $44.45.

Veracyte (NASDAQ:VCYT) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. The business had revenue of $115.86 million during the quarter, compared to analyst estimates of $109.81 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Veracyte’s revenue was up 28.6% on a year-over-year basis. Equities analysts predict that Veracyte, Inc. will post 0.32 EPS for the current year.

Insider Transactions at Veracyte

In other Veracyte news, Director Evan/ Fa Jones sold 5,173 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.23, for a total transaction of $182,244.79. Following the completion of the transaction, the director now owns 34,343 shares in the company, valued at $1,209,903.89. This trade represents a 13.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jonathan Wygant sold 5,032 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $42.89, for a total value of $215,822.48. Following the completion of the transaction, the chief accounting officer now directly owns 42,313 shares of the company’s stock, valued at approximately $1,814,804.57. The trade was a 10.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Leerink Partners boosted their price target on Veracyte from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Guggenheim assumed coverage on Veracyte in a report on Thursday, October 10th. They issued a “buy” rating and a $40.00 target price for the company. Scotiabank lifted their price target on shares of Veracyte from $40.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their price objective on shares of Veracyte from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on shares of Veracyte from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Veracyte Profile

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.