Zacks: Analysts Expect CareDx Inc (CDNA) Will Announce Earnings of -$0.03 Per Share

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Equities analysts expect that CareDx Inc (NASDAQ:CDNA) will report earnings of ($0.03) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CareDx’s earnings. CareDx reported earnings per share of ($0.15) during the same quarter last year, which would indicate a positive year-over-year growth rate of 80%. The company is expected to announce its next earnings report on Thursday, November 8th.

Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover CareDx.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $17.82 million for the quarter, compared to analyst estimates of $15.30 million. CareDx had a negative return on equity of 108.99% and a negative net margin of 121.92%.

CDNA has been the topic of a number of research analyst reports. HC Wainwright set a $17.00 price target on CareDx and gave the stock a “hold” rating in a research note on Friday, August 10th. BidaskClub raised CareDx from a “hold” rating to a “buy” rating in a research note on Friday, April 20th. TheStreet lowered CareDx from a “c-” rating to a “d” rating in a research note on Monday, June 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $17.00 price target on shares of CareDx in a research note on Wednesday, June 6th. Finally, ValuEngine upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.90.

In related news, CFO Michael Brian Bell sold 12,500 shares of CareDx stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $16.84, for a total transaction of $210,500.00. Following the transaction, the chief financial officer now owns 68,593 shares in the company, valued at $1,155,106.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sasha King sold 9,458 shares of CareDx stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $14.03, for a total value of $132,695.74. Following the transaction, the insider now owns 71,792 shares in the company, valued at approximately $1,007,241.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,607 shares of company stock worth $838,015. 3.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC purchased a new stake in CareDx in the first quarter valued at $230,000. Fox Run Management L.L.C. purchased a new stake in CareDx in the second quarter valued at $178,000. Macquarie Group Ltd. purchased a new stake in CareDx in the fourth quarter valued at $190,000. BlackRock Inc. raised its position in CareDx by 386.0% in the fourth quarter. BlackRock Inc. now owns 34,480 shares of the company’s stock valued at $253,000 after purchasing an additional 27,385 shares during the period. Finally, Wells Fargo & Company MN raised its position in CareDx by 1,360.6% in the fourth quarter. Wells Fargo & Company MN now owns 16,636 shares of the company’s stock valued at $122,000 after purchasing an additional 15,497 shares during the period. Hedge funds and other institutional investors own 55.29% of the company’s stock.

Shares of NASDAQ:CDNA traded up $0.21 during trading on Wednesday, reaching $17.28. The stock had a trading volume of 379,699 shares, compared to its average volume of 472,328. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.16 and a quick ratio of 1.83. The firm has a market capitalization of $617.52 million, a PE ratio of -22.44 and a beta of 0.51. CareDx has a 1-year low of $1.79 and a 1-year high of $18.05.

About CareDx

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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