CareDx, Inc. $CDNA Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in CareDx, Inc. (NASDAQ:CDNA) by 22.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 166,259 shares of the company’s stock after selling 49,320 shares during the period. Prudential Financial Inc.’s holdings in CareDx were worth $3,249,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers lifted its position in CareDx by 6.7% in the second quarter. Rhumbline Advisers now owns 84,687 shares of the company’s stock valued at $1,655,000 after acquiring an additional 5,303 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of CareDx by 20.9% during the second quarter. Legal & General Group Plc now owns 117,526 shares of the company’s stock worth $2,296,000 after purchasing an additional 20,317 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of CareDx by 41.2% during the second quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock worth $1,340,000 after purchasing an additional 20,028 shares in the last quarter. Swiss National Bank lifted its holdings in shares of CareDx by 2.0% in the 2nd quarter. Swiss National Bank now owns 100,600 shares of the company’s stock valued at $1,966,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of CareDx by 5.9% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 22,509 shares of the company’s stock valued at $440,000 after purchasing an additional 1,264 shares during the period.

Wall Street Analysts Forecast Growth

CDNA has been the topic of several research analyst reports. Wall Street Zen raised CareDx from a “sell” rating to a “buy” rating in a research report on Saturday, November 8th. BTIG Research raised their target price on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. William Blair started coverage on shares of CareDx in a report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a research report on Monday. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.00.

CareDx Price Performance

CareDx stock opened at $17.44 on Wednesday. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $26.37. The business has a 50 day simple moving average of $15.51 and a 200-day simple moving average of $15.62. The stock has a market capitalization of $896.94 million, a PE ratio of 14.66 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.15. The company had revenue of $100.06 million for the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. CareDx’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) EPS. As a group, equities research analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current year.

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.