CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• CareDx has a consensus “Hold” rating from seven analysts: four holds, two buys and one sell. The average 12-month price target is $44, below the stock’s reported opening price of $47.85.
• The company reported stronger-than-expected quarterly results, with earnings of $0.37 per share versus a $0.23 estimate and revenue of $131.95 million versus $114.05 million expected. Revenue increased 52.2% year over year.
• CareDx shares have risen sharply, trading near their one-year high of $49.76, while insiders sold 78,936 shares worth approximately $2.1 million over the past 90 days under pre-arranged trading plans.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) has received a consensus rating of "Hold" from the seven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $44.00.

CDNA has been the topic of a number of recent research reports. Weiss Ratings raised shares of CareDx from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday. William Blair raised shares of CareDx to a "hold" rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of CareDx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. Craig Hallum raised shares of CareDx from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a report on Monday. Finally, BTIG Research raised their target price on shares of CareDx from $28.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, July 16th.

Insider Transactions at CareDx

In other CareDx news, Director Hannah Valantine sold 12,103 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the sale, the director owned 36,686 shares of the company's stock, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 78,936 shares of company stock valued at $2,093,708. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDNA. Quarry LP bought a new position in shares of CareDx in the 4th quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of CareDx in the fourth quarter worth approximately $79,000. Quantbot Technologies LP acquired a new position in shares of CareDx in the 3rd quarter worth approximately $89,000. CWM LLC boosted its stake in shares of CareDx by 119.1% in the 4th quarter. CWM LLC now owns 7,407 shares of the company's stock valued at $140,000 after purchasing an additional 4,026 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of CareDx by 120.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company's stock valued at $149,000 after purchasing an additional 4,160 shares during the last quarter.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $47.85 on Tuesday. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 23.12 and a beta of 2.38. The stock's fifty day moving average price is $29.12 and its two-hundred day moving average price is $22.82. CareDx has a one year low of $11.26 and a one year high of $49.76.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.14. The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company's revenue was up 52.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) earnings per share. On average, equities analysts anticipate that CareDx will post 0.22 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc NASDAQ: CDNA is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company's core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

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