564,610 CareDx, Inc. $CDNA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 47.4% during the third quarter, HoldingsChannel reports. The fund owned 627,020 shares of the company’s stock after selling 564,610 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CareDx were worth $40,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CDNA. Squarepoint Ops LLC raised its stake in CareDx by 759.5% in the 2nd quarter. Squarepoint Ops LLC now owns 141,623 shares of the company’s stock valued at $4,036,000 after purchasing an additional 125,146 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of CareDx during the second quarter worth approximately $1,505,000. Corient Private Wealth LP bought a new stake in shares of CareDx in the 2nd quarter valued at approximately $654,000. Man Group plc acquired a new position in shares of CareDx during the second quarter valued at $3,618,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of CareDx in the 2nd quarter worth approximately $4,874,000.

CareDx Trading Down 3.0%

CDNA stock opened at $85.86 on Thursday. The business’s 50-day moving average price is $62.20 and its two-hundred day moving average price is $34.63. The firm has a market cap of $4.51 billion, a PE ratio of 35.92 and a beta of 2.51. CareDx, Inc. has a 1-year low of $14.42 and a 1-year high of $90.87.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.45. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company had revenue of $139.36 million during the quarter, compared to the consensus estimate of $121.96 million. During the same period in the prior year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. On average, analysts forecast that CareDx, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDNA has been the subject of a number of analyst reports. Canaccord Genuity Group set a $99.00 price objective on shares of CareDx in a research note on Friday, October 30th. Wall Street Zen downgraded shares of CareDx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Weiss Ratings upgraded CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price objective on shares of CareDx in a research report on Friday, July 31st. Finally, BTIG Research boosted their price target on shares of CareDx from $81.00 to $92.00 and gave the company a “buy” rating in a report on Friday, October 30th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.40.

CareDx Company Profile

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.