Key Points
- CareDx CFO Keith Kennedy sold 61,961 shares for about $4.82 million, reducing his holdings by 23.73%; the sale was made under a pre-arranged Rule 10b5-1 plan.
- CareDx reported quarterly EPS of $0.70, beating the $0.25 consensus, while revenue of $139.36 million exceeded estimates and rose 39.3% year over year.
- Shares were reported up 7.5%; analysts’ average price target was $64.40, below the cited $84.42 opening price, though MarketBeat’s consensus rating was “Moderate Buy.”
CareDx, Inc. (NASDAQ:CDNA - Get Free Report) CFO Keith Kennedy sold 61,961 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $77.82, for a total transaction of $4,821,805.02. Following the completion of the transaction, the chief financial officer owned 199,147 shares of the company's stock, valued at approximately $15,497,619.54. The trade was a 23.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
CareDx Trading Up 7.5%
CDNA stock opened at $84.42 on Tuesday. The stock has a market capitalization of $4.44 billion, a PE ratio of 130.09 and a beta of 2.51. CareDx, Inc. has a 12-month low of $15.15 and a 12-month high of $90.87. The stock's 50 day simple moving average is $63.92 and its 200 day simple moving average is $35.52.
CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.25 by $0.45. The business had revenue of $139.36 million for the quarter, compared to the consensus estimate of $121.96 million. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company's revenue was up 39.3% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, research analysts predict that CareDx, Inc. will post 0.99 earnings per share for the current year.
Institutional Investors Weigh In On CareDx
Several institutional investors and hedge funds have recently added to or reduced their stakes in CDNA. BlackRock Inc. bought a new stake in CareDx in the 2nd quarter worth approximately $137,219,000. Bamco Inc. NY bought a new stake in shares of CareDx in the second quarter worth $55,214,000. Amova Asset Management Americas Inc. grew its holdings in shares of CareDx by 2.0% in the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company's stock worth $25,608,000 after acquiring an additional 28,510 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in CareDx by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company's stock valued at $25,608,000 after acquiring an additional 28,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CareDx by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,461,914 shares of the company's stock valued at $25,375,000 after acquiring an additional 151,934 shares during the last quarter.
Analysts Set New Price Targets
Several equities research analysts recently commented on CDNA shares. Zacks Research raised CareDx from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 5th. HC Wainwright reiterated a "neutral" rating and issued a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. Weiss Ratings raised CareDx from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Craig Hallum raised CareDx from a "hold" rating to a "buy" rating and set a $64.00 target price for the company in a research report on Monday, August 3rd. Finally, William Blair upgraded shares of CareDx to a "hold" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, CareDx presently has an average rating of "Moderate Buy" and an average target price of $64.40.
View Our Latest Report on CareDx
About CareDx
(
Get Free Report)
CareDx, Inc is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time.
Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.
The company traces its roots to XDx, founded in 1998, and adopted the CareDx name in 2010.
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