CareDx, Inc. $CDNA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 47.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 627,020 shares of the company’s stock after selling 564,610 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.21% of CareDx worth $40,756,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Profund Advisors LLC lifted its holdings in CareDx by 23.7% during the 3rd quarter. Profund Advisors LLC now owns 20,441 shares of the company’s stock worth $1,329,000 after buying an additional 3,923 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of CareDx in the 3rd quarter valued at about $419,000. Vise Technologies Inc. bought a new position in shares of CareDx in the third quarter valued at about $355,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in CareDx by 9.8% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 25,750 shares of the company’s stock worth $1,674,000 after buying an additional 2,300 shares during the period. Finally, BOKF NA bought a new position in shares of CareDx in the third quarter worth $572,000.

CareDx Stock Down 3.0%

NASDAQ CDNA opened at $85.86 on Thursday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 35.92 and a beta of 2.51. The business has a 50-day moving average price of $62.20 and a 200-day moving average price of $34.63. CareDx, Inc. has a twelve month low of $14.42 and a twelve month high of $90.87.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.25 by $0.45. The company had revenue of $139.36 million for the quarter, compared to the consensus estimate of $121.96 million. CareDx had a net margin of 25.86% and a return on equity of 9.74%. The firm’s revenue was up 39.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. Research analysts expect that CareDx, Inc. will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CDNA shares. Weiss Ratings upgraded CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. BTIG Research lifted their price objective on CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, August 3rd. HC Wainwright restated a “neutral” rating and set a $46.00 target price on shares of CareDx in a research report on Friday, July 31st. Finally, Zacks Research lowered shares of CareDx from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $64.40.

About CareDx

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.