CareDx (CDNA) Issues Earnings Results, Misses Estimates By $0.42 EPS

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.

In other CareDx news, insider Sasha King sold 11,500 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $24.60, for a total transaction of $282,900.00. Following the sale, the insider now directly owns 53,542 shares in the company, valued at $1,317,133.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Neil Gagnon sold 108,599 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $27.05, for a total value of $2,937,602.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,954 shares of company stock worth $4,187,359. Company insiders own 3.40% of the company’s stock.

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.

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About CareDx

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.

Read More: Earnings Per Share (EPS) Explained

Earnings History for CareDx (NASDAQ:CDNA)

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