Dimensional Fund Advisors LP Has $25.38 Million Stock Position in CareDx, Inc. $CDNA

Key Points

• Dimensional Fund Advisors increased its CareDx stake by 11.6% in the first quarter, owning 1.46 million shares valued at approximately $25.4 million, or 2.83% of the company. Several other institutional investors also added to their positions.
• CareDx reported stronger-than-expected quarterly results, with EPS of $0.37 versus the $0.23 consensus estimate and revenue of $131.95 million, up 52.2% year over year. The stock opened at $45.50, near its $49.76 one-year high.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $44.00, while recent insider activity was negative as executives and directors sold a combined 78,936 shares worth about $2.1 million.

Dimensional Fund Advisors LP increased its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,461,914 shares of the company's stock after purchasing an additional 151,934 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.83% of CareDx worth $25,375,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CDNA. Allspring Global Investments Holdings LLC lifted its holdings in shares of CareDx by 11.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,242 shares of the company's stock worth $380,000 after acquiring an additional 2,151 shares during the period. Hsbc Holdings PLC lifted its stake in CareDx by 130.9% during the first quarter. Hsbc Holdings PLC now owns 38,387 shares of the company's stock worth $644,000 after purchasing an additional 21,764 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in CareDx by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company's stock worth $25,608,000 after purchasing an additional 28,510 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in CareDx by 58.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 41,294 shares of the company's stock valued at $717,000 after purchasing an additional 15,246 shares in the last quarter. Finally, 1492 Capital Management LLC bought a new stake in shares of CareDx in the 1st quarter valued at approximately $218,000.

CareDx Price Performance

NASDAQ CDNA opened at $45.50 on Thursday. The firm has a market cap of $2.35 billion, a PE ratio of 21.98 and a beta of 2.39. CareDx, Inc. has a one year low of $11.26 and a one year high of $49.76. The stock's 50 day simple moving average is $30.09 and its 200 day simple moving average is $23.18.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The firm 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 business's revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. As a group, equities analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, the director directly owned 36,686 shares of the company's stock, valued at approximately $847,813.46. This represents a 24.81% decrease in their position. 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 quarter, insiders have sold 78,936 shares of company stock worth $2,093,708. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CDNA has been the subject of several analyst reports. HC Wainwright restated a "neutral" rating and set a $46.00 target price on shares of CareDx in a research report on Friday, July 31st. Weiss Ratings upgraded CareDx from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 30th. William Blair raised CareDx to a "hold" rating in a report on Thursday, July 16th. Craig Hallum upgraded shares of CareDx from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a research note on Monday. Finally, BTIG Research upped 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. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CareDx presently has a consensus rating of "Hold" and an average price target of $44.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source