Brokerages Anticipate CareDx Inc (CDNA) Will Post Earnings of -$0.03 Per Share

Equities analysts predict that CareDx Inc (NASDAQ:CDNA) will announce earnings of ($0.03) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for CareDx’s earnings. CareDx reported earnings of ($0.15) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 80%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 8th.

Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover CareDx.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, August 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. CareDx had a negative return on equity of 108.99% and a negative net margin of 121.92%. The company had revenue of $17.82 million for the quarter, compared to analyst estimates of $15.30 million.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered CareDx from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. HC Wainwright lowered CareDx from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Tuesday, June 19th. BidaskClub upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $17.00 target price on shares of CareDx in a research note on Wednesday, June 6th. Finally, TheStreet lowered CareDx from a “c-” rating to a “d” rating in a research note on Monday, June 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. CareDx has a consensus rating of “Buy” and an average target price of $18.90.

In other news, COO Mitchell J. Nelles sold 39,649 shares of the business’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $12.48, for a total transaction of $494,819.52. Following the sale, the chief operating officer now owns 89,639 shares in the company, valued at $1,118,694.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Brian Bell sold 12,500 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $16.84, for a total value of $210,500.00. Following the sale, the chief financial officer now owns 68,593 shares in the company, valued at approximately $1,155,106.12. The disclosure for this sale can be found here. Insiders have sold 92,962 shares of company stock worth $1,594,372 in the last 90 days. Insiders own 3.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of CareDx during the second quarter worth about $116,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of CareDx during the second quarter worth about $139,000. Citadel Advisors LLC purchased a new stake in shares of CareDx during the first quarter worth about $152,000. Voya Investment Management LLC purchased a new stake in shares of CareDx during the second quarter worth about $153,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of CareDx during the second quarter worth about $178,000. Institutional investors and hedge funds own 72.88% of the company’s stock.

CDNA traded up $1.57 on Tuesday, hitting $28.15. The company had a trading volume of 766,000 shares, compared to its average volume of 520,668. CareDx has a 12-month low of $3.39 and a 12-month high of $28.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.16 and a quick ratio of 1.83. The firm has a market capitalization of $943.18 million, a PE ratio of -36.56 and a beta of 0.90.

CareDx Company Profile

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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