CareDx Inc (NASDAQ:CDNA) Expected to Announce Quarterly Sales of $33.04 Million

Equities research analysts predict that CareDx Inc (NASDAQ:CDNA) will announce $33.04 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for CareDx’s earnings. The highest sales estimate is $33.93 million and the lowest is $32.10 million. CareDx reported sales of $21.18 million during the same quarter last year, which would suggest a positive year over year growth rate of 56%. The firm is scheduled to report its next earnings results on Thursday, November 14th.

On average, analysts expect that CareDx will report full year sales of $124.84 million for the current fiscal year, with estimates ranging from $124.00 million to $126.53 million. For the next year, analysts anticipate that the firm will post sales of $171.04 million, with estimates ranging from $164.10 million to $178.28 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow CareDx.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $31.45 million during the quarter, compared to the consensus estimate of $27.96 million. CareDx had a negative net margin of 38.29% and a negative return on equity of 47.53%.

Several equities analysts have recently weighed in on CDNA shares. Craig Hallum set a $48.00 price target on CareDx and gave the company a “positive” rating in a report on Thursday, July 11th. TheStreet cut CareDx from a “c” rating to a “d” rating in a report on Thursday, May 23rd. BidaskClub cut CareDx from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Raymond James increased their price target on CareDx from $46.00 to $48.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research raised CareDx from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $44.00.

In other news, Director William A. Hagstrom sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $32.35, for a total value of $485,250.00. Following the completion of the sale, the director now directly owns 25,272 shares in the company, valued at approximately $817,549.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Maag sold 50,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $28.84, for a total value of $1,442,000.00. Following the completion of the sale, the chief executive officer now owns 379,049 shares of the company’s stock, valued at $10,931,773.16. The disclosure for this sale can be found here. Insiders sold a total of 140,084 shares of company stock valued at $4,773,305 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Aperio Group LLC purchased a new stake in shares of CareDx in the 2nd quarter worth $31,000. Covenant Multifamily Offices LLC purchased a new stake in CareDx in the 1st quarter worth $32,000. Stonebridge Capital Advisors LLC purchased a new stake in CareDx in the 2nd quarter worth $36,000. Pearl River Capital LLC purchased a new stake in CareDx in the 1st quarter worth $48,000. Finally, First Quadrant L P CA purchased a new stake in CareDx in the 2nd quarter worth $63,000. Hedge funds and other institutional investors own 94.24% of the company’s stock.

Shares of NASDAQ CDNA traded down $0.82 during midday trading on Tuesday, hitting $22.80. 547,412 shares of the stock traded hands, compared to its average volume of 1,008,935. The firm has a 50-day moving average of $30.99 and a two-hundred day moving average of $31.59. The firm has a market capitalization of $1.00 billion, a P/E ratio of -17.40 and a beta of 0.90. CareDx has a one year low of $19.11 and a one year high of $41.27.

About CareDx

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.

Read More: What is the strike price in options trading?

Get a free copy of the Zacks research report on CareDx (CDNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CareDx (NASDAQ:CDNA)

Receive News & Ratings for CareDx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CareDx and related companies with MarketBeat.com's FREE daily email newsletter.