Buying companies with proven products or services that are operating in thriving industries is a must for growth investors. Genetic testing is one such industry. There has been an increase awareness and interest in testing for genetic disorders and cancers. That's why Allied Market Research predicts that the genetic testing industry will grow at a 10.1% annual rate, reaching $21.3 billion by 2027.

With a $1.9 billion market capitalization, Veracyte (NASDAQ: VCYT) is a lesser-known name in the industry. The company leverages genomic technology to help physicians more confidently diagnose and treat chronic conditions. The thought is that this will lead to better treatment outcomes for patients. The company's tests are used to diagnose and guide treatment decisions for conditions like lung cancer, prostate and bladder cancers, thyroid cancer, breast cancer, and colon cancer.

Here are three reasons why growth investors may want to familiarize themselves with the medical diagnostic company and consider buying its shares.

Continue reading

Source Fool.com