CareDx (NASDAQ:CDNA) Stock Rating Upgraded by Zacks Research

CareDx (NASDAQ:CDNA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

CDNA has been the subject of a number of other research reports. HC Wainwright reissued a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. William Blair raised shares of CareDx to a “hold” rating in a report on Thursday, July 16th. BTIG Research lifted their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CareDx has an average rating of “Hold” and a consensus price target of $47.75.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $46.69 on Thursday. The stock’s fifty day moving average price is $31.01 and its two-hundred day moving average price is $23.52. CareDx has a one year low of $11.27 and a one year high of $49.76. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 22.56 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same quarter last year, the firm earned ($0.16) earnings per share. The company’s revenue was up 52.2% on a year-over-year basis. On average, equities analysts anticipate that CareDx will post 0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christine Cournoyer sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the completion of the transaction, the director directly owned 42,943 shares in the company, valued at approximately $2,015,744.42. The trade was a 27.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the sale, the director directly owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 114,936 shares of company stock valued at $3,770,348 over the last quarter. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of CareDx in the 2nd quarter valued at $137,219,000. Deutsche Bank AG acquired a new position in shares of CareDx during the 2nd quarter worth $1,547,000. Bank of New York Mellon Corp acquired a new position in shares of CareDx during the 2nd quarter worth $4,874,000. State of Wyoming bought a new stake in shares of CareDx during the 2nd quarter worth $227,000. Finally, GSA Capital Partners LLP bought a new stake in shares of CareDx during the 2nd quarter worth $725,000.

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.