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Veracyte (VCYT) Tops Q3 Earnings and Revenue Estimates
VCYTVeracyte(VCYT) ZACKS·2024-11-07 00:10

Group 1 - Veracyte reported quarterly earnings of 0.19pershare,significantlyexceedingtheZacksConsensusEstimateof0.19 per share, significantly exceeding the Zacks Consensus Estimate of 0.02 per share, and compared to a loss of 0.03pershareayearago,representinganearningssurpriseof8500.03 per share a year ago, representing an earnings surprise of 850% [1] - The company achieved revenues of 115.86 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.81%, and this is an increase from year-ago revenues of 90.11million[2]−VeracytehasconsistentlysurpassedconsensusEPSestimatesoverthelastfourquarters,indicatingstrongperformance[2]Group2−Thestockhasgainedapproximately30.690.11 million [2] - Veracyte has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance [2] Group 2 - The stock has gained approximately 30.6% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The future performance of Veracyte's stock will depend on management's commentary during the earnings call and the company's earnings outlook [4][6] - The current consensus EPS estimate for the upcoming quarter is 0.07 on revenues of 116.31million,andforthecurrentfiscalyear,itis116.31 million, and for the current fiscal year, it is 0.16 on revenues of $437.08 million [7] Group 3 - The Medical - Instruments industry, to which Veracyte belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook for the sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]