CareDx Inc (NASDAQ:CDNA) – Equities research analysts at Piper Sandler issued their Q2 2020 earnings estimates for CareDx in a report issued on Sunday, June 28th. Piper Sandler analyst S. Mah anticipates that the company will earn ($0.15) per share for the quarter. Piper Sandler has a “Buy” rating and a $54.00 price objective on the stock. Piper Sandler also issued estimates for CareDx’s Q3 2020 earnings at ($0.12) EPS, Q4 2020 earnings at ($0.12) EPS, FY2020 earnings at ($0.53) EPS, Q1 2021 earnings at ($0.04) EPS, Q2 2021 earnings at ($0.04) EPS, Q3 2021 earnings at ($0.01) EPS, Q4 2021 earnings at $0.00 EPS, FY2021 earnings at ($0.09) EPS and FY2022 earnings at $0.61 EPS.
Several other research analysts have also weighed in on the company. BidaskClub raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. Raymond James reissued a “buy” rating and set a $40.00 price target on shares of CareDx in a research report on Friday, June 19th. HC Wainwright reissued a “buy” rating and set a $37.00 price target (down from $40.00) on shares of CareDx in a research report on Friday, June 19th. Zacks Investment Research downgraded CareDx from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd. Finally, BTIG Research assumed coverage on CareDx in a research note on Friday, June 26th. They issued a “buy” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $43.14.
CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). CareDx had a negative return on equity of 20.72% and a negative net margin of 14.53%. The business had revenue of $38.40 million for the quarter, compared to analyst estimates of $38.26 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s revenue was up 47.8% compared to the same quarter last year.
In other news, CFO Michael Brian Bell sold 57,136 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $29.00, for a total value of $1,656,944.00. Following the completion of the transaction, the chief financial officer now directly owns 107,580 shares of the company’s stock, valued at approximately $3,119,820. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Maag sold 1,818 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $35.00, for a total value of $63,630.00. Following the completion of the transaction, the chief executive officer now directly owns 389,499 shares of the company’s stock, valued at $13,632,465. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,356 shares of company stock valued at $5,892,980. Insiders own 3.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in CareDx by 754.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,735 shares of the company’s stock worth $37,000 after acquiring an additional 1,532 shares during the last quarter. PNC Financial Services Group Inc. grew its position in CareDx by 267.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,836 shares of the company’s stock worth $41,000 after acquiring an additional 1,336 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in CareDx during the 4th quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CareDx by 58.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,817 shares of the company’s stock worth $61,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new stake in CareDx during the 1st quarter worth approximately $73,000.
CareDx Company Profile
CareDx, Inc, a precision medicine company, discovers, develops, and commercializes healthcare solutions for transplant patients and caregivers worldwide. It offers AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; and AlloMap Heart, a gene expression solution for heart transplant patients.
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