CareDx (CDNA) Releases Quarterly Earnings Results, Misses Estimates By $0.42 EPS

CareDx (NASDAQ:CDNA) posted its quarterly earnings results on Thursday. The company reported ($0.54) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.42), Morningstar.com reports. CareDx had a negative return on equity of 108.99% and a negative net margin of 121.92%. The business had revenue of $21.18 million during the quarter, compared to analysts’ expectations of $18.47 million. CareDx updated its FY 2018 guidance to EPS.

CareDx stock traded down $2.13 during mid-day trading on Friday, reaching $25.61. 2,159,992 shares of the stock traded hands, compared to its average volume of 546,962. The stock has a market cap of $999.88 million, a PE ratio of -33.26 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.16. CareDx has a 12-month low of $4.92 and a 12-month high of $30.15.

In related news, CFO Michael Brian Bell sold 16,355 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $25.06, for a total transaction of $409,856.30. Following the completion of the sale, the chief financial officer now owns 52,238 shares in the company, valued at $1,309,084.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Neil Gagnon sold 108,599 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $27.05, for a total value of $2,937,602.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,954 shares of company stock valued at $4,187,359. 3.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in CareDx in the third quarter worth about $124,000. State Board of Administration of Florida Retirement System purchased a new stake in CareDx in the third quarter worth about $201,000. CAPROCK Group Inc. purchased a new stake in CareDx in the third quarter worth about $237,000. Strs Ohio purchased a new stake in CareDx in the second quarter worth about $116,000. Finally, Metropolitan Life Insurance Co. NY purchased a new stake in CareDx in the second quarter worth about $139,000. Institutional investors own 74.63% of the company’s stock.

Several research analysts have recently weighed in on CDNA shares. 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 upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research cut CareDx from a “buy” rating to a “sell” rating in a research note on Wednesday, August 15th. Piper Jaffray Companies upped their price objective on CareDx to $42.00 in a research report on Wednesday, September 5th. Finally, Craig Hallum set a $35.00 price objective on CareDx and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. CareDx has a consensus rating of “Buy” and a consensus price target of $29.60.

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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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Earnings History for CareDx (NASDAQ:CDNA)

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