$74.24 Million in Sales Expected for CareDx, Inc (NASDAQ:CDNA) This Quarter

Wall Street analysts predict that CareDx, Inc (NASDAQ:CDNA) will announce sales of $74.24 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for CareDx’s earnings. The lowest sales estimate is $73.39 million and the highest is $74.70 million. CareDx reported sales of $53.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 39.1%. The business is expected to announce its next earnings results on Thursday, November 4th.

On average, analysts expect that CareDx will report full-year sales of $290.49 million for the current fiscal year, with estimates ranging from $289.60 million to $291.88 million. For the next fiscal year, analysts forecast that the company will post sales of $342.46 million, with estimates ranging from $338.26 million to $349.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover CareDx.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, July 29th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. CareDx had a negative net margin of 3.53% and a negative return on equity of 2.39%. The business had revenue of $74.19 million for the quarter, compared to analysts’ expectations of $68.02 million.

A number of research analysts recently issued reports on CDNA shares. Raymond James lifted their target price on CareDx from $90.00 to $108.00 and gave the stock a “strong-buy” rating in a report on Monday, June 28th. Piper Sandler lifted their target price on CareDx from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. BTIG Research started coverage on CareDx in a report on Tuesday, July 20th. They set a “buy” rating and a $115.00 target price on the stock. Zacks Investment Research raised CareDx from a “sell” rating to a “hold” rating in a report on Tuesday, August 31st. Finally, The Goldman Sachs Group started coverage on CareDx in a report on Thursday, June 3rd. They set a “buy” rating and a $95.00 target price on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $91.00.

Shares of NASDAQ CDNA traded up $0.27 during midday trading on Friday, reaching $65.40. 13,153 shares of the company traded hands, compared to its average volume of 641,688. CareDx has a 52 week low of $30.27 and a 52 week high of $99.83. The stock has a 50-day moving average price of $78.09 and a 200 day moving average price of $77.39. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -361.83 and a beta of 0.61.

In other CareDx news, insider Peter Maag sold 9,605 shares of CareDx stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $95.30, for a total transaction of $915,356.50. Following the transaction, the insider now owns 372,258 shares of the company’s stock, valued at approximately $35,476,187.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Reginald Seeto sold 13,212 shares of CareDx stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $95.75, for a total value of $1,265,049.00. Following the transaction, the insider now directly owns 135,618 shares in the company, valued at approximately $12,985,423.50. The disclosure for this sale can be found here. Insiders sold a total of 59,469 shares of company stock worth $5,221,651 in the last three months. 4.60% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of CareDx by 9.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 69,583 shares of the company’s stock valued at $6,368,000 after buying an additional 5,963 shares during the last quarter. Sawtooth Solutions LLC acquired a new stake in shares of CareDx during the 2nd quarter valued at about $240,000. Comerica Bank acquired a new stake in shares of CareDx during the 2nd quarter valued at about $1,744,000. Morgan Stanley lifted its holdings in shares of CareDx by 263.3% during the 2nd quarter. Morgan Stanley now owns 500,535 shares of the company’s stock valued at $45,809,000 after buying an additional 362,771 shares during the last quarter. Finally, Lisanti Capital Growth LLC lifted its holdings in shares of CareDx by 40.1% during the 2nd quarter. Lisanti Capital Growth LLC now owns 163,255 shares of the company’s stock valued at $14,941,000 after buying an additional 46,725 shares during the last quarter.

CareDx Company Profile

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 South San Francisco, CA.

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Earnings History and Estimates for CareDx (NASDAQ:CDNA)

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