CareDx (NASDAQ:CDNA) Upgraded at Craig Hallum

Craig Hallum upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat.com reports. The firm currently has $64.00 target price on the stock.

A number of other research analysts have also commented on CDNA. BTIG Research upped their price target on shares of CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. HC Wainwright reiterated a “neutral” rating and set a $46.00 target price on shares of CareDx in a research note on Friday, July 31st. Weiss Ratings raised CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. William Blair upgraded CareDx to a “hold” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.00.

CareDx Trading Down 3.4%

Shares of NASDAQ CDNA opened at $45.50 on Monday. The company has a market capitalization of $2.35 billion, a P/E ratio of 21.98 and a beta of 2.39. CareDx has a 12 month low of $11.26 and a 12 month high of $49.76. The stock has a 50 day moving average of $30.09 and a 200-day moving average of $23.18.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results 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. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The business had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same quarter last year, the firm posted ($0.16) EPS. The company’s quarterly revenue was up 52.2% on a year-over-year basis. Analysts predict that CareDx will post 0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the transaction, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, the director owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 78,936 shares of company stock worth $2,093,708. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CareDx

Hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. bought a new position in shares of CareDx in the third quarter worth $31,857,000. Boston Partners raised its stake in CareDx by 2,776.5% in the fourth quarter. Boston Partners now owns 901,929 shares of the company’s stock valued at $16,994,000 after purchasing an additional 870,574 shares in the last quarter. Aberdeen Group plc bought a new stake in CareDx during the fourth quarter worth about $6,506,000. Millennium Management LLC lifted its position in CareDx by 504.0% during the third quarter. Millennium Management LLC now owns 413,689 shares of the company’s stock worth $6,015,000 after purchasing an additional 345,197 shares during the period. Finally, Palo Alto Investors LP bought a new stake in CareDx during the third quarter worth about $4,598,000.

CareDx Company Profile

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.