CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CareDx, Inc. (NASDAQ:CDNAGet Free Report) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $51.20.

Several equities research analysts have commented on the company. Weiss Ratings upgraded CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. William Blair upgraded shares of CareDx to a “hold” rating in a research note on Thursday, July 16th. BTIG Research increased their price target on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. HC Wainwright restated a “neutral” rating and set a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. Finally, Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, August 3rd.

View Our Latest Stock Analysis on CDNA

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the transaction, the director owned 42,943 shares in the company, valued at approximately $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the completion of the sale, the director directly owned 134,061 shares in the company, valued at approximately $6,204,343.08. The trade was a 12.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 110,101 shares of company stock valued at $3,654,308 over the last quarter. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNA. Corient Private Wealth LP acquired a new stake in CareDx in the 2nd quarter valued at $697,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in CareDx during the second quarter worth $668,000. California State Teachers Retirement System lifted its holdings in CareDx by 3,285.7% during the second quarter. California State Teachers Retirement System now owns 1,554,134 shares of the company’s stock valued at $44,293,000 after purchasing an additional 1,508,231 shares in the last quarter. Nykredit A S purchased a new position in CareDx during the second quarter valued at $25,000. Finally, Hsbc Holdings PLC grew its position in shares of CareDx by 411.2% in the second quarter. Hsbc Holdings PLC now owns 196,250 shares of the company’s stock valued at $5,591,000 after purchasing an additional 157,863 shares during the period.

CareDx Stock Performance

Shares of CDNA opened at $50.88 on Friday. The business’s 50-day moving average is $40.72 and its two-hundred day moving average is $27.49. The company has a market capitalization of $2.63 billion, a P/E ratio of 24.58 and a beta of 2.43. CareDx has a fifty-two week low of $13.12 and a fifty-two week high of $53.67.

CareDx (NASDAQ:CDNAGet Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) EPS. Analysts forecast that CareDx will post 0.47 EPS for the current year.

CareDx Company Profile

(Get Free Report)

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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