CareDx (CDNA) Announces Earnings Results

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CareDx (NASDAQ:CDNA) posted its quarterly earnings results on Thursday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.42), Morningstar.com reports. The company had revenue of $21.18 million during the quarter, compared to analyst estimates of $18.47 million. CareDx had a negative net margin of 121.92% and a negative return on equity of 108.99%. CareDx updated its FY 2018 guidance to EPS.

Shares of NASDAQ CDNA opened at $25.61 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. CareDx has a fifty-two week low of $4.92 and a fifty-two week high of $30.15. The stock has a market cap of $1.03 billion, a PE ratio of -33.26 and a beta of 1.06.

In other news, insider Sasha King sold 11,500 shares of the firm’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $24.60, for a total transaction of $282,900.00. Following the sale, the insider now owns 53,542 shares of the company’s stock, valued at approximately $1,317,133.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Brian Bell sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $16.84, for a total value of $210,500.00. Following the sale, the chief financial officer now directly owns 68,593 shares in the company, valued at approximately $1,155,106.12. The disclosure for this sale can be found here. Insiders have sold a total of 163,954 shares of company stock worth $4,187,359 in the last three months. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of CareDx during the 3rd quarter worth about $124,000. Cambridge Investment Research Advisors Inc. raised its position in shares of CareDx by 7.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 87,748 shares of the company’s stock worth $1,074,000 after acquiring an additional 6,418 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of CareDx during the 3rd quarter worth about $201,000. Citadel Advisors LLC raised its position in shares of CareDx by 37.5% during the 2nd quarter. Citadel Advisors LLC now owns 26,216 shares of the company’s stock worth $321,000 after acquiring an additional 7,156 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in shares of CareDx during the 3rd quarter worth about $237,000. 74.63% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the company. Craig Hallum reaffirmed a “buy” rating and issued a $40.00 price target on shares of CareDx in a research report on Friday. Zacks Investment Research raised CareDx from a “sell” rating to a “hold” rating in a research report on Tuesday. HC Wainwright reaffirmed a “neutral” rating and issued a $22.00 price target on shares of CareDx in a research report on Tuesday, September 18th. Piper Jaffray Companies increased their price target on CareDx to $42.00 in a research report on Wednesday, September 5th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $30.00 price target on shares of CareDx in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. CareDx has a consensus rating of “Buy” and a consensus price target of $29.60.

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CareDx Company Profile

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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Earnings History for CareDx (NASDAQ:CDNA)

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