CareDx (NASDAQ:CDNA) announced its quarterly earnings results on Thursday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.42), Morningstar.com reports. CareDx had a negative net margin of 121.92% and a negative return on equity of 108.99%. The firm had revenue of $21.18 million for the quarter, compared to the consensus estimate of $18.47 million. CareDx updated its FY 2018 guidance to EPS.
CareDx stock traded down $2.13 during midday trading on Friday, reaching $25.61. 2,159,992 shares of the stock traded hands, compared to its average volume of 546,962. CareDx has a 12 month low of $4.92 and a 12 month high of $30.15. The company has a current ratio of 2.16, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market cap of $999.88 million, a PE ratio of -33.26 and a beta of 1.06.
A number of brokerages recently commented on CDNA. Craig Hallum set a $40.00 price target on CareDx and gave the company a “buy” rating in a research note on Friday. HC Wainwright reissued a “neutral” rating and set a $22.00 price target on shares of CareDx in a research note on Tuesday, September 18th. BidaskClub raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Zacks Investment Research lowered CareDx from a “buy” rating to a “sell” rating in a research note on Wednesday, August 15th. Finally, Raymond James reissued a “strong-buy” rating and set a $30.00 price target on shares of CareDx in a research note on Tuesday, October 23rd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.60.
Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in CareDx during the third quarter valued at approximately $124,000. State Board of Administration of Florida Retirement System purchased a new stake in CareDx during the third quarter valued at approximately $201,000. CAPROCK Group Inc. purchased a new stake in CareDx during the third quarter valued at approximately $237,000. Strs Ohio purchased a new stake in CareDx during the second quarter valued at approximately $116,000. Finally, Metropolitan Life Insurance Co. NY purchased a new stake in CareDx during the second quarter valued at approximately $139,000. Institutional investors and hedge funds own 74.63% of the company’s stock.
CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.
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