CareDx, Inc (NASDAQ:CDNA) Expected to Post Earnings of -$0.01 Per Share

Wall Street analysts expect CareDx, Inc (NASDAQ:CDNA – Get Rating) to announce earnings per share (EPS) of ($0.01) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for CareDx’s earnings. CareDx posted earnings of $0.11 per share during the same quarter last year, which would suggest a negative year over year growth rate of 109.1%. The firm is expected to report its next earnings results on Monday, January 1st.

Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover CareDx.

CareDx (NASDAQ:CDNA – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.12). The business had revenue of $79.22 million for the quarter, compared to analyst estimates of $78.10 million. CareDx had a negative return on equity of 10.50% and a negative net margin of 16.09%. CareDx’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS.

Several equities analysts have recently commented on CDNA shares. Raymond James decreased their target price on CareDx from $90.00 to $52.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 25th. Craig Hallum dropped their price objective on shares of CareDx from $106.00 to $87.00 in a research note on Friday, February 25th. Zacks Investment Research upgraded shares of CareDx from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. BTIG Research decreased their target price on shares of CareDx from $100.00 to $65.00 in a report on Monday, February 28th. Finally, StockNews.com lowered shares of CareDx from a “hold” rating to a “sell” rating in a report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $76.50.

Shares of NASDAQ CDNA opened at $25.78 on Friday. The business’s 50 day moving average price is $34.98 and its two-hundred day moving average price is $41.28. The company has a market cap of $1.37 billion, a PE ratio of -27.14 and a beta of 0.81. CareDx has a twelve month low of $25.14 and a twelve month high of $96.88.

In other news, insider Reginald Seeto sold 2,550 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $45.00, for a total value of $114,750.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George Bickerstaff sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $39.11, for a total transaction of $977,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,091 shares of company stock worth $2,522,421. 4.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its position in CareDx by 263.3% during the 2nd quarter. Morgan Stanley now owns 500,535 shares of the company’s stock valued at $45,809,000 after purchasing an additional 362,771 shares during the period. Deutsche Bank AG increased its position in CareDx by 34.1% during the 3rd quarter. Deutsche Bank AG now owns 57,685 shares of the company’s stock valued at $3,655,000 after purchasing an additional 14,673 shares during the period. Swiss National Bank increased its position in CareDx by 0.7% during the 3rd quarter. Swiss National Bank now owns 115,000 shares of the company’s stock valued at $7,288,000 after purchasing an additional 800 shares during the period. Meeder Asset Management Inc. increased its position in CareDx by 38.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,596 shares of the company’s stock valued at $355,000 after purchasing an additional 1,541 shares during the period. Finally, Mackenzie Financial Corp increased its position in CareDx by 39.6% during the 3rd quarter. Mackenzie Financial Corp now owns 4,973 shares of the company’s stock valued at $315,000 after purchasing an additional 1,410 shares during the period.

About CareDx (Get Rating)

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It 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.

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