$24.27 Million in Sales Expected for CareDx Inc (CDNA) This Quarter

Equities analysts predict that CareDx Inc (NASDAQ:CDNA) will report sales of $24.27 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CareDx’s earnings. The lowest sales estimate is $23.20 million and the highest is $25.00 million. CareDx posted sales of $14.05 million in the same quarter last year, which suggests a positive year-over-year growth rate of 72.7%. The business is expected to announce its next earnings report on Thursday, May 9th.

On average, analysts expect that CareDx will report full year sales of $106.40 million for the current fiscal year, with estimates ranging from $105.90 million to $107.17 million. For the next fiscal year, analysts expect that the business will post sales of $159.24 million, with estimates ranging from $155.90 million to $164.83 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow CareDx.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $23.51 million for the quarter, compared to the consensus estimate of $23.34 million. CareDx had a negative return on equity of 63.64% and a negative net margin of 61.06%.

Several equities research analysts recently weighed in on CDNA shares. Raymond James raised their price target on shares of CareDx from $38.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Friday, March 22nd. HC Wainwright set a $30.00 price objective on shares of CareDx and gave the company a “hold” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Thursday, March 7th. BidaskClub cut shares of CareDx from a “strong-buy” rating to a “buy” rating in a report on Friday, March 29th. Finally, TheStreet upgraded shares of CareDx from a “d” rating to a “c” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $36.67.

In related news, Director Michael Goldberg sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 84,740 shares in the company, valued at approximately $3,165,886.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James P. Yee sold 32,500 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $23.88, for a total transaction of $776,100.00. Following the completion of the sale, the insider now owns 73,543 shares in the company, valued at $1,756,206.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,822 shares of company stock worth $5,815,664. Corporate insiders own 3.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in CareDx during the 4th quarter worth approximately $45,000. First Interstate Bank acquired a new stake in CareDx during the 4th quarter worth approximately $80,000. Great West Life Assurance Co. Can acquired a new stake in CareDx during the 4th quarter worth approximately $81,000. Meeder Asset Management Inc. increased its position in CareDx by 31.7% during the 4th quarter. Meeder Asset Management Inc. now owns 5,692 shares of the company’s stock worth $144,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Legal & General Group Plc increased its position in CareDx by 19.5% during 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 in the last quarter. Institutional investors own 86.86% of the company’s stock.

Shares of NASDAQ:CDNA traded down $2.39 during trading on Friday, hitting $28.45. 48,620 shares of the company were exchanged, compared to its average volume of 948,951. The company has a market cap of $1.29 billion, a P/E ratio of -21.69 and a beta of 1.20. CareDx has a 52-week low of $8.68 and a 52-week high of $39.38.

CareDx Company Profile

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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