Raymond James Financial Inc. Makes New Investment in CareDx, Inc (NASDAQ:CDNA)

Raymond James Financial Inc. acquired a new stake in CareDx, Inc (NASDAQ:CDNA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 172,559 shares of the company's stock, valued at approximately $3,694,000. Raymond James Financial Inc. owned approximately 0.32% of CareDx as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of CareDx by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after acquiring an additional 323,554 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of CareDx by 3.5% in the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock valued at $32,433,000 after purchasing an additional 51,160 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of CareDx by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock valued at $30,663,000 after buying an additional 196,298 shares during the period. Geode Capital Management LLC increased its holdings in shares of CareDx by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock worth $26,432,000 after buying an additional 6,539 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of CareDx by 25.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock worth $18,738,000 after buying an additional 178,304 shares during the period.

CareDx Price Performance

Shares of CareDx stock traded up $0.71 on Friday, hitting $15.78. The company had a trading volume of 232,891 shares, compared to its average volume of 858,620. CareDx, Inc has a 52 week low of $8.96 and a 52 week high of $34.84. The company has a market cap of $874.35 million, a PE ratio of -5.89 and a beta of 2.18. The business has a 50-day simple moving average of $18.61 and a 200-day simple moving average of $21.55.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $84.69 million for the quarter, compared to analysts' expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. On average, equities research analysts predict that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDNA. HC Wainwright reduced their price target on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Stephens restated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. StockNews.com upgraded CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company upgraded CareDx from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

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.