Champlain Investment Partners LLC Cuts Stake in Veracyte, Inc. (NASDAQ:VCYT)

Champlain Investment Partners LLC cut its position in Veracyte, Inc. (NASDAQ:VCYT) by 68.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 800,355 shares of the biotechnology company’s stock after selling 1,731,125 shares during the period. Champlain Investment Partners LLC’s holdings in Veracyte were worth $31,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in Veracyte by 49.7% in the 4th quarter. Jones Financial Companies Lllp now owns 714 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 237 shares during the last quarter. US Bancorp DE increased its holdings in shares of Veracyte by 57.4% in the 4th quarter. US Bancorp DE now owns 1,774 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. raised its stake in shares of 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 bought a new position in shares of Veracyte during the fourth quarter valued at $91,000. Finally, Sterling Capital Management LLC boosted its position in shares of Veracyte by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,421 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 2,155 shares during the last quarter.

Veracyte Stock Performance

Shares of Veracyte stock opened at $31.14 on Friday. The stock has a market cap of $2.43 billion, a P/E ratio of -207.60 and a beta of 2.03. The stock’s fifty day moving average is $33.35 and its 200 day moving average is $37.36. Veracyte, Inc. has a one year low of $18.61 and a one year high of $47.32.

Veracyte (NASDAQ:VCYT) last posted its quarterly earnings data on Monday, February 24th. The biotechnology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $118.63 million for the quarter, compared to analysts’ expectations of $110.73 million. Veracyte had a positive return on equity of 3.02% and a negative net margin of 2.18%. During the same period in the previous year, the firm earned ($0.39) EPS. Analysts predict that Veracyte, Inc. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VCYT. Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of Veracyte in a research report on Wednesday, March 26th. Guggenheim lowered their price objective on shares of Veracyte from $45.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. UBS Group lifted their target price on shares of Veracyte from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and set a $51.00 price target on shares of Veracyte in a report on Tuesday, February 25th. Finally, Craig Hallum assumed coverage on Veracyte in a report on Thursday, March 20th. They issued a “buy” rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Veracyte currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.60.

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.