CareDx, Inc. (NASDAQ:CDNA) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• CareDx, Inc. has received an average recommendation of "Moderate Buy" from six research firms, with four analysts recommending a buy and two recommending a hold.
• The company's shares traded at $12.79 recently, showing a significant drop from its twelve-month high of $34.84.
• Despite a net margin of 19.79% and revenue growth of 17.6% year-over-year, CareDx has a projected earnings per share of -0.9 for the current fiscal year.

Shares of CareDx, Inc. (NASDAQ:CDNA - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $29.33.

CDNA has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. Craig Hallum cut their price objective on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Stephens reiterated an "overweight" rating and set a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Finally, Wall Street Zen lowered CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th.

Insider Buying and Selling

In other CareDx news, Director Hannah Valantine sold 10,570 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total transaction of $202,521.20. Following the transaction, the director owned 38,994 shares in the company, valued at $747,125.04. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Maag sold 13,281 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director owned 316,743 shares in the company, valued at approximately $5,457,481.89. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,078 shares of company stock worth $2,419,915 in the last quarter. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On CareDx

Hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after acquiring an additional 1,126 shares during the period. MCF Advisors LLC increased its stake in shares of CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after purchasing an additional 3,322 shares during the last quarter. State of Wyoming bought a new position in shares of CareDx in the 4th quarter valued at $91,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock valued at $79,000 after purchasing an additional 4,444 shares during the last quarter.

CareDx Stock Performance

NASDAQ CDNA traded up $0.14 during trading hours on Friday, hitting $12.93. 270,089 shares of the company traded hands, compared to its average volume of 1,136,520. The business's 50-day moving average is $17.88 and its 200-day moving average is $19.14. CareDx has a twelve month low of $10.96 and a twelve month high of $34.84. The stock has a market capitalization of $720.18 million, a price-to-earnings ratio of 11.23 and a beta of 2.19.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The company had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. During the same period last year, the firm posted ($0.03) earnings per share. The business's revenue was up 17.6% on a year-over-year basis. Analysts predict that CareDx will post -0.9 EPS for the current year.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.