Mackenzie Financial Corp Increases Holdings in CareDx, Inc. (NASDAQ:CDNA)

Mackenzie Financial Corp grew its holdings in CareDx, Inc. (NASDAQ:CDNA) by 22.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,001 shares of the company’s stock after acquiring an additional 6,515 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of CareDx worth $639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after purchasing an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after buying an additional 3,322 shares during the last quarter. State of Wyoming acquired a new position in shares of CareDx in the 4th quarter valued at $91,000. Morse Asset Management Inc acquired a new position in shares of CareDx in the 1st quarter valued at $103,000. Finally, Balance Wealth LLC purchased a new position in shares of CareDx in the 1st quarter valued at $189,000.

CareDx Stock Up 1.9%

Shares of CDNA stock opened at $13.10 on Thursday. The stock’s 50-day moving average price is $17.13 and its 200 day moving average price is $18.63. The stock has a market capitalization of $729.41 million, a PE ratio of 11.39 and a beta of 2.22. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.28). CareDx had a net margin of 19.79% and a return on equity of 21.16%. The company had revenue of $90.51 million during the quarter, compared to analyst estimates of $90.72 million. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CDNA shares. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. Craig Hallum cut their target price on CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. HC Wainwright reissued a “neutral” rating and issued a $25.00 target price on shares of CareDx in a report on Monday, May 5th. Wall Street Zen downgraded CareDx from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, The Goldman Sachs Group reduced their price objective on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CareDx presently has an average rating of “Hold” and a consensus price target of $29.33.

Insider Activity

In other news, Director Christine Cournoyer sold 29,136 shares of CareDx stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total value of $465,010.56. Following the sale, the director owned 37,045 shares of the company’s stock, valued at $591,238.20. The trade was a 44.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total value of $523,500.00. Following the completion of the sale, the director directly owned 53,979 shares in the company, valued at $941,933.55. This represents a 35.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,097 shares of company stock worth $1,955,113 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

CareDx 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.