CareDx (NASDAQ:CDNA) Lowered to Strong Sell Rating by Zacks Research

Key Points

• CareDx has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating a negative outlook from analysts.
• The stock is currently trading at approximately $15.19, with a 52-week range between $10.96 and $26.37.
• Despite the downgrade, other firms like BTIG Research have maintained a "buy" rating with a target price of $22.00, showcasing mixed analyst sentiments on the stock's performance.

CareDx (NASDAQ:CDNA - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. BTIG Research reaffirmed a "buy" rating and set a $22.00 price target on shares of CareDx in a research report on Tuesday, September 23rd. Weiss Ratings restated a "sell (d+)" rating on shares of CareDx in a research note on Wednesday, October 8th. Craig Hallum decreased their price target on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, July 18th. William Blair initiated coverage on CareDx in a research note on Tuesday, August 26th. They issued a "market perform" rating for the company. Finally, Wall Street Zen upgraded CareDx from a "sell" rating to a "hold" rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $25.50.

CareDx Stock Performance

Shares of CDNA stock opened at $15.19 on Monday. CareDx has a 52 week low of $10.96 and a 52 week high of $26.37. The stock's fifty day moving average is $13.91 and its 200-day moving average is $15.89. The stock has a market capitalization of $808.52 million, a PE ratio of 14.89 and a beta of 2.37.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.28). CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company had revenue of $90.51 million for the quarter, compared to the consensus estimate of $90.72 million. During the same quarter last year, the business posted $0.25 EPS. CareDx's quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts forecast that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in shares of CareDx by 3.4% in the first quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after purchasing an additional 640 shares in the last quarter. Sei Investments Co. grew its position in CareDx by 1.7% during the first quarter. Sei Investments Co. now owns 47,921 shares of the company's stock worth $851,000 after buying an additional 816 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in CareDx by 3.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock worth $425,000 after buying an additional 900 shares in the last quarter. MCF Advisors LLC grew its position in CareDx by 292.9% during the second quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock worth $26,000 after buying an additional 996 shares in the last quarter. Finally, Cetera Trust Company N.A grew its position in CareDx by 11.2% during the second quarter. Cetera Trust Company N.A now owns 12,195 shares of the company's stock worth $238,000 after buying an additional 1,225 shares in the last quarter.

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.

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