Russell Investments Group Ltd. Purchases 281,592 Shares of CareDx, Inc. $CDNA

Key Points

• Russell Investments Group Ltd. increased its stake in CareDx by 89.9% in Q1, now holding 594,851 shares valued at approximately $10.56 million.
• CareDx reported a quarterly earnings miss, with earnings per share of ($0.16), missing the estimated $0.12, while revenue was down 6.1% year-over-year.
• Wall Street analysts have mixed ratings on CareDx, with a consensus rating of "Hold" and an average target price of $27.67.

Russell Investments Group Ltd. grew its holdings in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 89.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 594,851 shares of the company's stock after acquiring an additional 281,592 shares during the period. Russell Investments Group Ltd. owned 1.07% of CareDx worth $10,559,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in shares of CareDx during the 1st quarter valued at $375,000. Nuveen Asset Management LLC increased its holdings in CareDx by 15.5% in the 4th quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company's stock valued at $9,594,000 after acquiring an additional 60,050 shares during the last quarter. Millennium Management LLC increased its holdings in CareDx by 37.8% in the 4th quarter. Millennium Management LLC now owns 621,307 shares of the company's stock valued at $13,302,000 after acquiring an additional 170,568 shares during the last quarter. Hsbc Holdings PLC increased its holdings in CareDx by 6.9% in the 4th quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock valued at $365,000 after acquiring an additional 1,109 shares during the last quarter. Finally, US Bancorp DE increased its holdings in CareDx by 7.2% in the 1st quarter. US Bancorp DE now owns 18,403 shares of the company's stock valued at $327,000 after acquiring an additional 1,235 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the sale, the director owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director directly owned 38,994 shares of the company's stock, valued at $747,125.04. The trade was a 21.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,961 shares of company stock worth $1,490,102 in the last three months. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Craig Hallum reduced their price target on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, July 18th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Wells Fargo & Company dropped their price objective on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Finally, Stephens reissued an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research note on Monday, May 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.67.

CareDx Trading Up 3.7%

Shares of CDNA stock traded up $0.46 during trading hours on Friday, reaching $12.97. 1,269,063 shares of the stock were exchanged, compared to its average volume of 1,343,100. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $32.97. The company's 50-day moving average price is $15.58 and its 200-day moving average price is $17.67. The firm has a market capitalization of $690.39 million, a price-to-earnings ratio of 12.72 and a beta of 2.22.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) 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 firm had revenue of $90.51 million for the quarter, compared to analysts' expectations of $90.72 million. During the same period in the prior year, the firm posted $0.25 earnings per share. CareDx's revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that CareDx, Inc. will post -0.9 EPS for the current year.

CareDx 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.