Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in CareDx, Inc. $CDNA

Sumitomo Mitsui Trust Group Inc. lifted its holdings in CareDx, Inc. (NASDAQ:CDNA) by 40.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,740,064 shares of the company’s stock after purchasing an additional 503,136 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 3.27% of CareDx worth $25,301,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CDNA. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in CareDx in the second quarter worth about $352,000. Hood River Capital Management LLC lifted its stake in shares of CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock valued at $34,507,000 after purchasing an additional 182,025 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of CareDx by 17.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock valued at $439,000 after purchasing an additional 3,389 shares during the last quarter. Strs Ohio purchased a new position in shares of CareDx in the 1st quarter worth approximately $462,000. Finally, Geode Capital Management LLC increased its position in shares of CareDx by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,323,497 shares of the company’s stock valued at $25,864,000 after purchasing an additional 43,074 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CDNA. Weiss Ratings restated a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 29th. Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Wells Fargo & Company lifted their price target on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. BTIG Research increased their price objective on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, CareDx has an average rating of “Hold” and a consensus target price of $26.67.

CareDx Price Performance

Shares of CDNA opened at $20.01 on Friday. CareDx, Inc. has a 1-year low of $10.96 and a 1-year high of $25.55. The company has a 50-day moving average of $18.51 and a 200 day moving average of $15.87. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 16.82 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, November 4th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. The business had revenue of $100.06 million for the quarter, compared to analyst estimates of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company posted ($0.14) earnings per share. On average, equities analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.