Aviva PLC Increases Position in CareDx, Inc. $CDNA

Aviva PLC increased its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 19.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,132 shares of the company’s stock after buying an additional 4,317 shares during the quarter. Aviva PLC’s holdings in CareDx were worth $511,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock valued at $47,355,000 after purchasing an additional 1,153,011 shares during the last quarter. Gagnon Securities LLC grew its position in CareDx by 8.9% in the 2nd quarter. Gagnon Securities LLC now owns 1,548,912 shares of the company’s stock valued at $30,266,000 after buying an additional 127,223 shares during the last quarter. Goldman Sachs Group Inc. grew its position in CareDx by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock valued at $19,703,000 after buying an additional 170,504 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in CareDx by 14.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,003,580 shares of the company’s stock valued at $17,814,000 after buying an additional 128,383 shares during the period. Finally, Russell Investments Group Ltd. raised its position in CareDx by 89.9% during the 1st quarter. Russell Investments Group Ltd. now owns 594,851 shares of the company’s stock worth $10,559,000 after buying an additional 281,592 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. William Blair assumed coverage on shares of CareDx in a report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Zacks Research downgraded shares of CareDx from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Craig Hallum dropped 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. Wall Street Zen raised CareDx from a “sell” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company reduced their price target on CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CareDx currently has an average rating of “Hold” and a consensus target price of $26.00.

CareDx Stock Performance

CDNA opened at $15.87 on Friday. The company has a market cap of $816.24 million, a price-to-earnings ratio of 15.56 and a beta of 2.50. CareDx, Inc. has a one year low of $10.96 and a one year high of $26.37. The business’s fifty day moving average is $14.78 and its two-hundred day moving average is $15.55.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.15. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The business had revenue of $100.06 million during the quarter, compared to the consensus estimate of $95.25 million. During the same quarter in the previous year, the company posted ($0.14) EPS. The business’s revenue was up 20.7% on a year-over-year basis. CareDx has set its FY 2025 guidance at EPS. On average, analysts predict that CareDx, Inc. will post -0.9 EPS for the current fiscal 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.