The Manufacturers Life Insurance Company Acquires New Holdings in CareDx, Inc. $CDNA

The Manufacturers Life Insurance Company bought a new position in CareDx, Inc. (NASDAQ:CDNA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,403 shares of the company’s stock, valued at approximately $382,000.

A number of other large investors have also recently added to or reduced their stakes in CDNA. Connor Clark & Lunn Investment Management Ltd. acquired a new position in CareDx during the second quarter valued at approximately $7,644,000. Globeflex Capital L P bought a new stake in shares of CareDx during the 2nd quarter worth $3,399,000. Quantbot Technologies LP bought a new stake in shares of CareDx during the 2nd quarter worth $310,000. Ieq Capital LLC bought a new stake in shares of CareDx during the 2nd quarter worth $418,000. Finally, Allworth Financial LP acquired a new position in CareDx in the 2nd quarter valued at $72,000.

Insider Buying and Selling at CareDx

In other CareDx news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction 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 sale, the director owned 36,686 shares in the company, valued at $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total transaction of $925,600.00. Following the completion of the sale, the director directly owned 134,061 shares in the company, valued at $6,204,343.08. This trade represents a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 110,101 shares of company stock worth $3,654,308 over the last three months. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CDNA shares. BTIG Research upped their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, August 3rd. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 target price on shares of CareDx in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

CareDx Price Performance

CareDx stock opened at $50.88 on Tuesday. The business has a 50 day moving average price of $41.15 and a two-hundred day moving average price of $27.76. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 24.58 and a beta of 2.43. CareDx, Inc. has a 12 month low of $13.12 and a 12 month high of $53.67.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The company 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 company’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. On average, analysts expect that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

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.