CareDx (NASDAQ:CDNA) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

CDNA has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 8th. William Blair began coverage on CareDx in a report on Tuesday, August 26th. They set a “market perform” rating for the company. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, BTIG Research upped their target price on shares of CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.67.

CareDx Trading Down 3.2%

Shares of CDNA opened at $19.91 on Friday. The firm’s fifty day simple moving average is $16.32 and its two-hundred day simple moving average is $15.76. CareDx has a 12 month low of $10.96 and a 12 month high of $25.95. The stock has a market capitalization of $1.02 billion, a P/E ratio of 16.73 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The business had revenue of $100.06 million for the quarter, compared to the consensus estimate of $95.25 million. During the same period in the prior year, the business earned ($0.14) EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, research analysts predict that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Trading of CareDx

A number of hedge funds and other institutional investors have recently bought and sold shares of CDNA. Deerfield Management Company L.P. purchased a new stake in CareDx in the 3rd quarter valued at approximately $31,857,000. Braidwell LP purchased a new stake in CareDx during the 3rd quarter worth about $31,738,000. Invesco Ltd. lifted its stake in shares of CareDx by 76.1% during the first quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock valued at $47,355,000 after buying an additional 1,153,011 shares during the period. Next Century Growth Investors LLC lifted its position in CareDx by 309.4% during the second quarter. Next Century Growth Investors LLC now owns 1,125,454 shares of the company’s stock worth $21,991,000 after buying an additional 850,580 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of CareDx by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after purchasing an additional 719,523 shares during the last quarter.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.