Veracyte Inc reports results for the quarter ended in January 1 - Earnings Summary

Veracyte

07/11/2024 04:41

* Veracyte Inc  VCYT.OQ  reported quarterly adjusted
earnings of
19 cents​​ per share for the quarter ended January 1, higher
than the same quarter last year, when the company reported EPS
of -41 cents.  The mean expectation of eleven analysts for the
quarter was for earnings of 3 cents per share. Wall Street
expected results to range from -6 cents to 9 cents per share.
    * Revenue rose 28.6% to $115.86 million from a year ago;
analysts
expected $109.81 million. 
    * Veracyte Inc's reported EPS for the quarter was 19 cents​.
    * The company reported quarterly net income of $15.16
million.
    * Veracyte Inc shares had risen by 5.6% this quarter and
gained 30.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 343.8%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 1
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Veracyte Inc is
40.00 
This summary was machine generated from LSEG data November 7 at
04:41 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      0.03           0.19           Beat
 Jun. 30 2024      -0.02          0.07           Beat
 Mar. 31 2024      -0.16          -0.02          Beat
 Dec. 31 2023      -0.09          -0.39          Missed