Zacks: Analysts Expect CareDx (CDNA) to Announce -$0.12 EPS

Wall Street analysts expect CareDx (NASDAQ:CDNA) to post ($0.12) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for CareDx’s earnings. CareDx reported earnings of ($0.32) per share during the same quarter last year, which would indicate a positive year over year growth rate of 62.5%. The business is expected to issue its next earnings report on Friday, June 8th.

Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for CareDx.

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CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, March 22nd. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. CareDx had a negative return on equity of 349.65% and a negative net margin of 114.79%. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $12.09 million.

A number of equities research analysts recently commented on the company. ValuEngine raised CareDx from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of CareDx in a report on Wednesday, January 31st. Finally, Zacks Investment Research downgraded CareDx from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CareDx currently has an average rating of “Buy” and an average price target of $8.65.

CareDx stock opened at $7.97 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of -3.08. CareDx has a 52 week low of $0.76 and a 52 week high of $8.35.

In other CareDx news, insider Peter Maag sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $7.87, for a total value of $118,050.00. Following the completion of the transaction, the insider now directly owns 272,037 shares of the company’s stock, valued at $2,140,931.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of CareDx by 125.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 64,426 shares of the company’s stock valued at $473,000 after buying an additional 35,851 shares in the last quarter. Park West Asset Management LLC purchased a new stake in shares of CareDx in the fourth quarter valued at approximately $5,944,000. Macquarie Group Ltd. purchased a new stake in shares of CareDx in the fourth quarter valued at approximately $190,000. Millennium Management LLC purchased a new stake in shares of CareDx in the fourth quarter valued at approximately $336,000. Finally, Ardsley Advisory Partners purchased a new stake in shares of CareDx in the fourth quarter valued at approximately $147,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

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CareDx Company Profile

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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