$33.03 Million in Sales Expected for CareDx Inc (NASDAQ:CDNA) This Quarter

Brokerages predict that CareDx Inc (NASDAQ:CDNA) will post sales of $33.03 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for CareDx’s earnings. The highest sales estimate is $33.93 million and the lowest is $32.10 million. CareDx reported sales of $21.18 million in the same quarter last year, which would suggest a positive year over year growth rate of 55.9%. The business is expected to report its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that CareDx will report full year sales of $125.02 million for the current year, with estimates ranging from $124.00 million to $127.29 million. For the next fiscal year, analysts anticipate that the business will report sales of $169.84 million, with estimates ranging from $164.13 million to $173.77 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover CareDx.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). CareDx had a negative net margin of 38.29% and a negative return on equity of 47.53%. The firm had revenue of $31.45 million during the quarter, compared to analyst estimates of $27.96 million.

Several brokerages have recently commented on CDNA. BidaskClub upgraded CareDx from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. HC Wainwright set a $43.00 target price on CareDx and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Jaffray Companies set a $63.00 target price on CareDx and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Raymond James lifted their target price on CareDx from $46.00 to $48.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, ValuEngine downgraded CareDx from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. CareDx has a consensus rating of “Buy” and an average price target of $44.17.

CareDx stock traded up $0.91 during midday trading on Friday, reaching $28.15. The stock had a trading volume of 679,746 shares, compared to its average volume of 846,612. The firm’s fifty day simple moving average is $23.27 and its 200-day simple moving average is $29.83. CareDx has a 1-year low of $19.11 and a 1-year high of $41.27. The stock has a market capitalization of $1.12 billion, a P/E ratio of -21.49 and a beta of 0.92.

In related news, CEO Peter Maag sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $28.84, for a total value of $1,442,000.00. Following the completion of the sale, the chief executive officer now directly owns 379,049 shares in the company, valued at approximately $10,931,773.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Aperio Group LLC acquired a new position in shares of CareDx during the 2nd quarter worth $31,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of CareDx in the second quarter worth approximately $36,000. First Quadrant L P CA purchased a new stake in shares of CareDx in the second quarter worth approximately $63,000. Resources Investment Advisors LLC. purchased a new stake in shares of CareDx in the second quarter worth approximately $212,000. Finally, Private Wealth Partners LLC purchased a new stake in shares of CareDx in the second quarter worth approximately $216,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.

About CareDx

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Earnings History and Estimates for CareDx (NASDAQ:CDNA)

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