Analysts Expect CareDx, Inc. (CDNA) Will Announce Quarterly Sales of $12.01 Million
Equities research analysts forecast that CareDx, Inc. (NASDAQ:CDNA) will post sales of $12.01 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for CareDx’s earnings. The highest sales estimate is $12.33 million and the lowest is $11.69 million. CareDx posted sales of $12.48 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The business is expected to announce its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that CareDx will report full-year sales of $12.01 million for the current financial year, with estimates ranging from $46.65 million to $46.70 million. For the next year, analysts forecast that the company will post sales of $55.20 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover CareDx.
CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). The business had revenue of $12.05 million for the quarter, compared to analysts’ expectations of $11.87 million. CareDx had a negative return on equity of 69.67% and a negative net margin of 77.02%.
Several research firms have issued reports on CDNA. Zacks Investment Research raised shares of CareDx from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. ValuEngine lowered shares of CareDx from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
In other news, major shareholder Neil Gagnon purchased 63,120 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were acquired at an average cost of $1.10 per share, with a total value of $69,432.00. Following the completion of the acquisition, the insider now owns 886,216 shares of the company’s stock, valued at $974,837.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders acquired 80,689 shares of company stock worth $87,815 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in CareDx by 23.5% in the first quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock valued at $737,000 after buying an additional 100,111 shares in the last quarter. Gagnon Securities LLC raised its position in CareDx by 2.9% in the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after buying an additional 57,954 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. purchased a new position in CareDx during the first quarter valued at about $22,450,000. 34.89% of the stock is currently owned by institutional investors and hedge funds.
CareDx (CDNA) traded up 14.9776% during trading on Friday, reaching $1.5407. The company had a trading volume of 204,666 shares. The stock has a 50 day moving average of $1.26 and a 200-day moving average of $1.48. The stock’s market capitalization is $33.00 million. CareDx has a 12-month low of $0.76 and a 12-month high of $5.00.
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CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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