CareDx (NASDAQ:CDNA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CareDx (NASDAQ:CDNA) from a sell rating to a hold rating in a research report released on Monday morning.

A number of other research firms also recently issued reports on CDNA. BTIG Research restated a “buy” rating and set a $22.00 price objective on shares of CareDx in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CareDx in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. William Blair began coverage on shares of CareDx in a research note on Tuesday, August 26th. They issued a “market perform” rating for the company. Finally, Craig Hallum lowered their price objective on shares of CareDx from $40.00 to $26.00 and set a “buy” rating for the company in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, CareDx presently has a consensus rating of “Hold” and a consensus price target of $25.50.

CareDx Trading Down 4.1%

CareDx stock opened at $14.57 on Monday. CareDx has a 1-year low of $10.96 and a 1-year high of $26.37. The firm has a market capitalization of $775.56 million, a price-to-earnings ratio of 14.28 and a beta of 2.37. The firm’s fifty day moving average price is $13.96 and its two-hundred day moving average price is $15.88.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.28). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The business had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. During the same period last year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. On average, research analysts forecast that CareDx will post -0.9 EPS for the current year.

Hedge Funds Weigh In On CareDx

Several large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of CareDx in the first quarter worth $375,000. Acadian Asset Management LLC increased its position in CareDx by 6.1% during the first quarter. Acadian Asset Management LLC now owns 359,303 shares of the company’s stock valued at $6,373,000 after acquiring an additional 20,806 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in CareDx by 67.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company’s stock valued at $950,000 after acquiring an additional 21,627 shares during the last quarter. Strs Ohio bought a new position in shares of CareDx in the first quarter worth about $462,000. Finally, US Bancorp DE grew its holdings in shares of CareDx by 7.2% in the first quarter. US Bancorp DE now owns 18,403 shares of the company’s stock worth $327,000 after purchasing an additional 1,235 shares during the last quarter.

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.