Wall Street brokerages forecast that CareDx (NASDAQ:CDNA) will report sales of $13.86 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for CareDx’s earnings. The lowest sales estimate is $12.00 million and the highest is $16.10 million. CareDx reported sales of $11.58 million during the same quarter last year, which indicates a positive year over year growth rate of 19.7%. The business is scheduled to report its next earnings report on Friday, June 8th.
On average, analysts expect that CareDx will report full year sales of $61.28 million for the current year, with estimates ranging from $60.21 million to $62.69 million. For the next year, analysts forecast that the company will report sales of $86.41 million per share, with estimates ranging from $83.51 million to $92.80 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow CareDx.
CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, March 22nd. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $12.09 million. CareDx had a negative return on equity of 349.65% and a negative net margin of 114.79%.
A number of brokerages recently weighed in on CDNA. HC Wainwright set a $12.00 price objective on CareDx and gave the stock a “buy” rating in a research report on Thursday, April 12th. TheStreet upgraded CareDx from a “d-” rating to a “c-” rating in a research report on Tuesday, April 10th. ValuEngine upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research lowered CareDx from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. CareDx presently has a consensus rating of “Buy” and a consensus target price of $8.65.
Shares of CDNA stock opened at $8.95 on Tuesday. The firm has a market cap of $261.96, a P/E ratio of -11.62 and a beta of 0.35. CareDx has a twelve month low of $0.76 and a twelve month high of $9.29. The company has a debt-to-equity ratio of -3.08, a quick ratio of 0.50 and a current ratio of 0.62.
In other CareDx news, insider Peter Maag sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $7.87, for a total value of $118,050.00. Following the sale, the insider now owns 272,037 shares in the company, valued at approximately $2,140,931.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. Royce & Associates LP grew its position in shares of CareDx by 8.1% in the 3rd quarter. Royce & Associates LP now owns 792,787 shares of the company’s stock valued at $2,933,000 after buying an additional 59,500 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of CareDx in the 4th quarter valued at about $130,000. FNY Partners Fund LP bought a new stake in shares of CareDx in the 4th quarter valued at about $102,000. Perkins Capital Management Inc. lifted its stake in shares of CareDx by 28.9% in the 4th quarter. Perkins Capital Management Inc. now owns 178,639 shares of the company’s stock valued at $1,311,000 after purchasing an additional 40,089 shares during the period. Finally, Private Wealth Partners LLC lifted its stake in shares of CareDx by 85.5% in the 4th quarter. Private Wealth Partners LLC now owns 436,000 shares of the company’s stock valued at $3,200,000 after purchasing an additional 201,000 shares during the period. Hedge funds and other institutional investors own 51.50% of the company’s stock.
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CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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