CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Recommendation of “Hold” from Brokerages

CareDx, Inc. (NASDAQ:CDNA) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.3333.

A number of research firms have weighed in on CDNA. Wall Street Zen lowered CareDx from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. BTIG Research upped their price target on shares of CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Finally, Craig Hallum lowered shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 price objective for the company. in a report on Tuesday, January 6th.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 29,636 shares of company stock worth $625,949 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in CareDx by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock valued at $19,703,000 after purchasing an additional 170,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of CareDx by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock worth $2,378,000 after buying an additional 13,619 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of CareDx by 17.7% during the second quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock valued at $439,000 after buying an additional 3,389 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of CareDx during the second quarter valued at $381,000. Finally, First Eagle Investment Management LLC raised its holdings in shares of CareDx by 15.3% in the second quarter. First Eagle Investment Management LLC now owns 379,023 shares of the company’s stock valued at $7,406,000 after acquiring an additional 50,409 shares in the last quarter.

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $17.01 on Friday. The firm has a market capitalization of $871.25 million, a PE ratio of -42.53 and a beta of 2.52. The business has a 50 day simple moving average of $19.33 and a two-hundred day simple moving average of $17.21. CareDx has a 1 year low of $10.96 and a 1 year high of $21.49.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The business had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $102.76 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities research analysts expect that CareDx will post -0.9 EPS 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.