CareDx, Inc. $CDNA Position Reduced by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has decreased its stake in CareDx, Inc. by 0.5%, selling 25,659 shares and now holding approximately 8.68% of the company, valued at around $85.8 million.
• Recent analyst ratings for CareDx show a shift, with price targets revised downward by multiple firms, indicating a consensus rating of "Moderate Buy" and a target price of $27.67.
• CareDx reported a loss of $0.16 EPS for the last quarter, missing analysts' expectations, and a year-over-year revenue decline of 6.1% to $90.51 million.

Vanguard Group Inc. cut its holdings in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,834,073 shares of the company's stock after selling 25,659 shares during the period. Vanguard Group Inc. owned about 8.68% of CareDx worth $85,805,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of CareDx in the 1st quarter valued at about $375,000. Nuveen Asset Management LLC boosted its holdings in shares of 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 buying an additional 60,050 shares during the period. Millennium Management LLC grew its position in shares of CareDx by 37.8% during the fourth quarter. Millennium Management LLC now owns 621,307 shares of the company's stock worth $13,302,000 after acquiring an additional 170,568 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of CareDx by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock worth $365,000 after acquiring an additional 1,109 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of CareDx by 7.2% during the first quarter. US Bancorp DE now owns 18,403 shares of the company's stock worth $327,000 after acquiring an additional 1,235 shares during the last quarter.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded down $0.30 during trading hours on Thursday, hitting $13.00. 1,149,939 shares of the company's stock traded hands, compared to its average volume of 1,175,872. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $32.97. The company's fifty day simple moving average is $15.21 and its two-hundred day simple moving average is $17.54. The company has a market cap of $691.68 million, a price-to-earnings ratio of 12.74 and a beta of 2.22.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The business 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. The business's revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $18.58, for a total transaction of $185,800.00. Following the completion of the sale, the director directly owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total transaction of $202,521.20. Following the sale, the director directly owned 38,994 shares of the company's stock, valued at $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,961 shares of company stock valued at $966,602. 4.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDNA. William Blair began coverage on shares of CareDx in a research report on Tuesday. They set a "market perform" rating for the company. Craig Hallum lowered their price target on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Wall Street Zen lowered shares of CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. HC Wainwright restated a "neutral" rating and set a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Finally, Stephens restated an "overweight" rating and set a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.67.

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.