CareDx, Inc. (NASDAQ:CDNA) Given Consensus Recommendation of “Hold” by Analysts

CareDx, Inc. (NASDAQ:CDNA) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $27.3333.

Several research analysts recently issued reports on CDNA shares. Craig Hallum lowered shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Tuesday, January 6th. BTIG Research upped their price objective on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th. Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen lowered shares of CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total value of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. The trade was a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 29,636 shares of company stock valued at $625,949 in the last quarter. 4.40% of the stock is currently owned by insiders.

Institutional Trading of CareDx

Institutional investors have recently made changes to their positions in the stock. Paragon Associates & Paragon Associates II Joint Venture boosted its position in CareDx by 93.7% during the 3rd quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock valued at $6,180,000 after buying an additional 205,597 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of CareDx by 11.5% during the second quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock worth $34,507,000 after purchasing an additional 182,025 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of CareDx by 25.4% during the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock worth $6,909,000 after purchasing an additional 96,123 shares during the period. SG Capital Management LLC bought a new stake in shares of CareDx in the second quarter worth about $6,171,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of CareDx by 17.7% in the second quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock worth $439,000 after purchasing an additional 3,389 shares during the last quarter.

CareDx Trading Up 1.0%

CDNA stock opened at $17.15 on Friday. The company’s 50 day moving average is $19.42 and its 200 day moving average is $17.18. The stock has a market cap of $878.42 million, a price-to-earnings ratio of -42.88 and a beta of 2.52. CareDx has a 1-year low of $10.96 and a 1-year high of $21.49.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The company had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.CareDx’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. As a group, sell-side analysts forecast that CareDx will post -0.9 EPS for the current fiscal year.

About CareDx

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.