CareDx Inc (CDNA) Receives Consensus Recommendation of “Buy” from Analysts

CareDx Inc (NASDAQ:CDNA) has received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $35.40.

CDNA has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “hold” rating and set a $27.00 target price on shares of CareDx in a research report on Friday, December 21st. Zacks Investment Research upgraded CareDx from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 3rd. BidaskClub lowered CareDx from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 15th. Finally, Jefferies Financial Group initiated coverage on CareDx in a research report on Friday, February 15th. They set a “buy” rating and a $35.00 target price on the stock.

In other news, insider James P. Yee sold 32,500 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $23.88, for a total transaction of $776,100.00. Following the transaction, the insider now owns 73,543 shares in the company, valued at approximately $1,756,206.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sasha King sold 2,500 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $25.00, for a total value of $62,500.00. Following the transaction, the insider now owns 76,387 shares in the company, valued at approximately $1,909,675. The disclosure for this sale can be found here. Insiders have sold a total of 185,822 shares of company stock worth $5,815,664 in the last quarter. Insiders own 3.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CDNA. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CareDx in the 4th quarter valued at $45,000. First Interstate Bank purchased a new position in shares of CareDx during the 4th quarter worth $80,000. Great West Life Assurance Co. Can purchased a new position in shares of CareDx during the 4th quarter worth $81,000. Meeder Asset Management Inc. raised its holdings in shares of CareDx by 31.7% during the 4th quarter. Meeder Asset Management Inc. now owns 5,692 shares of the company’s stock worth $144,000 after acquiring an additional 1,371 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of CareDx by 19.5% during the 4th quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock worth $154,000 after acquiring an additional 998 shares during the period. Institutional investors own 93.20% of the company’s stock.

Shares of NASDAQ CDNA opened at $35.59 on Friday. The company has a market cap of $1.49 billion, a PE ratio of -27.17 and a beta of 1.21. CareDx has a 12 month low of $5.51 and a 12 month high of $38.38.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $23.51 million for the quarter, compared to analyst estimates of $23.34 million. CareDx had a negative return on equity of 63.64% and a negative net margin of 61.06%. Research analysts forecast that CareDx will post -0.16 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, focuses on the discovery, development, and commercialization of diagnostic solutions for transplant patients worldwide. The company develops and provides a diagnostic surveillance testing solution for heart and kidney transplant recipients.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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