Analysts expect CareDx Inc (NASDAQ:CDNA) to post $23.82 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for CareDx’s earnings, with estimates ranging from $22.87 million to $25.00 million. CareDx reported sales of $14.05 million in the same quarter last year, which would suggest a positive year over year growth rate of 69.5%. The business is scheduled to report its next earnings results on Thursday, May 9th.
On average, analysts expect that CareDx will report full year sales of $106.14 million for the current financial year, with estimates ranging from $105.90 million to $106.52 million. For the next financial year, analysts expect that the firm will report sales of $155.59 million, with estimates ranging from $144.94 million to $164.83 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CareDx.
CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, March 6th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). CareDx had a negative net margin of 61.06% and a negative return on equity of 63.64%. The company had revenue of $23.51 million for the quarter, compared to the consensus estimate of $23.34 million.
Several equities research analysts have recently issued reports on CDNA shares. HC Wainwright set a $30.00 price target on CareDx and gave the company a “hold” rating in a research report on Thursday, March 7th. Zacks Investment Research raised CareDx from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 7th. BidaskClub raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 25th. Finally, Jefferies Financial Group started coverage on CareDx in a research report on Friday, February 15th. They issued a “buy” rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the stock. CareDx presently has an average rating of “Buy” and a consensus target price of $34.00.
In other news, Director Michael Goldberg sold 50,000 shares of CareDx stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $37.36, for a total value of $1,868,000.00. Following the completion of the transaction, the director now owns 84,740 shares in the company, valued at $3,165,886.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sasha King sold 2,500 shares of CareDx stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $25.00, for a total transaction of $62,500.00. Following the completion of the transaction, the insider now owns 76,387 shares of the company’s stock, valued at approximately $1,909,675. The disclosure for this sale can be found here. Insiders sold 185,822 shares of company stock valued at $5,815,664 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CareDx in the 4th quarter worth approximately $45,000. First Interstate Bank bought a new position in CareDx in the 4th quarter worth approximately $80,000. Great West Life Assurance Co. Can bought a new position in CareDx in the 4th quarter worth approximately $81,000. Meeder Asset Management Inc. bought a new position in CareDx in the 3rd quarter worth approximately $124,000. Finally, Legal & General Group Plc raised its position in CareDx by 19.5% in the 4th quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock worth $154,000 after purchasing an additional 998 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.
NASDAQ CDNA traded up $0.64 during trading on Wednesday, hitting $37.00. 450,683 shares of the company traded hands, compared to its average volume of 820,209. CareDx has a 12 month low of $5.73 and a 12 month high of $38.38. The firm has a market cap of $1.50 billion, a P/E ratio of -28.24 and a beta of 1.21.
CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, focuses on the discovery, development, and commercialization of diagnostic solutions for transplant patients worldwide. The company develops and provides a diagnostic surveillance testing solution for heart and kidney transplant recipients.
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