$83.57 Million in Sales Expected for CareDx, Inc (NASDAQ:CDNA) This Quarter

Analysts expect CareDx, Inc (NASDAQ:CDNAGet Rating) to announce sales of $83.57 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CareDx’s earnings. The highest sales estimate is $84.03 million and the lowest is $83.20 million. CareDx posted sales of $74.19 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that CareDx will report full year sales of $341.48 million for the current financial year, with estimates ranging from $337.74 million to $345.22 million. For the next year, analysts expect that the company will report sales of $392.58 million, with estimates ranging from $382.53 million to $403.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CareDx.

CareDx (NASDAQ:CDNAGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.12). CareDx had a negative return on equity of 10.58% and a negative net margin of 16.09%. The company had revenue of $79.22 million during the quarter, compared to the consensus estimate of $78.10 million. During the same period in the previous year, the business earned ($0.07) earnings per share. CareDx’s revenue was up 35.1% on a year-over-year basis.

A number of research firms have recently commented on CDNA. Stephens began coverage on CareDx in a report on Monday, April 25th. They issued an “overweight” rating and a $50.00 price target for the company. Craig Hallum dropped their price objective on CareDx from $106.00 to $87.00 in a research note on Friday, February 25th. Zacks Investment Research lowered CareDx from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James dropped their price objective on CareDx from $90.00 to $52.00 and set a “strong-buy” rating for the company in a research note on Friday, February 25th. Finally, StockNews.com lowered CareDx from a “hold” rating to a “sell” rating in a research note on Friday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $76.50.

In other news, insider Reginald Seeto sold 3,153 shares of CareDx stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $38.62, for a total value of $121,768.86. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter Maag sold 10,000 shares of CareDx stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $32.81, for a total value of $328,100.00. The disclosure for this sale can be found here. Insiders have sold 57,220 shares of company stock worth $2,084,659 in the last 90 days. Company insiders own 4.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its position in CareDx by 6.7% during the 4th quarter. ARK Investment Management LLC now owns 3,638,774 shares of the company’s stock valued at $165,491,000 after acquiring an additional 228,621 shares in the last quarter. State Street Corp boosted its position in CareDx by 32.5% during the 1st quarter. State Street Corp now owns 3,040,586 shares of the company’s stock valued at $112,471,000 after acquiring an additional 745,779 shares in the last quarter. Invesco Ltd. boosted its position in CareDx by 1.3% during the 3rd quarter. Invesco Ltd. now owns 2,999,340 shares of the company’s stock valued at $190,068,000 after acquiring an additional 39,945 shares in the last quarter. Bellevue Group AG boosted its position in CareDx by 57.6% during the 1st quarter. Bellevue Group AG now owns 2,311,176 shares of the company’s stock valued at $85,490,000 after acquiring an additional 844,624 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in CareDx by 31.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,967,234 shares of the company’s stock valued at $72,768,000 after acquiring an additional 465,319 shares in the last quarter.

Shares of CareDx stock traded up $0.37 during trading hours on Tuesday, reaching $25.29. The company had a trading volume of 530,375 shares, compared to its average volume of 759,476. CareDx has a one year low of $21.25 and a one year high of $96.88. The business has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $39.14. The firm has a market cap of $1.35 billion, a PE ratio of -26.62 and a beta of 0.81.

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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