CareDx (NASDAQ:CDNA) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

CareDx (NASDAQ:CDNA) released its quarterly earnings results on Thursday. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07), Morningstar.com reports. CareDx had a negative net margin of 51.21% and a negative return on equity of 52.93%. The company had revenue of $31.45 million for the quarter, compared to the consensus estimate of $27.96 million. CareDx updated its FY 2019 guidance to EPS.

Shares of CDNA traded up $1.01 during mid-day trading on Friday, hitting $35.01. 2,103,980 shares of the company traded hands, compared to its average volume of 1,098,336. CareDx has a one year low of $13.94 and a one year high of $41.27. The business has a 50-day simple moving average of $35.47. The stock has a market capitalization of $1.38 billion, a PE ratio of -26.73 and a beta of 0.90.

In other CareDx news, CFO Michael Brian Bell sold 14,894 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $32.42, for a total value of $482,863.48. Following the transaction, the chief financial officer now directly owns 90,623 shares of the company’s stock, valued at $2,937,997.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William A. Hagstrom sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.35, for a total transaction of $485,250.00. Following the completion of the transaction, the director now directly owns 25,272 shares in the company, valued at $817,549.20. The disclosure for this sale can be found here. Insiders have sold 187,180 shares of company stock worth $6,373,653 over the last three months. 3.20% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in CDNA. Aperio Group LLC bought a new position in CareDx in the second quarter valued at approximately $31,000. Covenant Multifamily Offices LLC bought a new position in CareDx in the first quarter valued at approximately $32,000. Pearl River Capital LLC acquired a new stake in CareDx in the first quarter worth $48,000. First Quadrant L P CA acquired a new stake in CareDx in the second quarter worth $63,000. Finally, Great West Life Assurance Co. Can acquired a new stake in CareDx in the fourth quarter worth $81,000. 88.87% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on CDNA shares. HC Wainwright raised shares of CareDx from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $43.00 in a research note on Thursday, May 9th. Raymond James increased their price target on shares of CareDx from $46.00 to $48.00 and gave the company a “strong-buy” rating in a research note on Friday. Zacks Investment Research raised shares of CareDx from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. BidaskClub raised shares of CareDx from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Jaffray Companies increased their price target on shares of CareDx from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $44.00.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Earnings History for CareDx (NASDAQ:CDNA)

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