Analysts predict that CareDx Inc (NASDAQ:CDNA) will report $11.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for CareDx’s earnings, with estimates ranging from $11.77 million to $12.11 million. CareDx reported sales of $10.86 million in the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The business is expected to announce its next quarterly earnings results on Friday, April 20th.
According to Zacks, analysts expect that CareDx will report full-year sales of $11.96 million for the current fiscal year, with estimates ranging from $47.59 million to $47.93 million. For the next year, analysts forecast that the company will post sales of $62.47 million per share, with estimates ranging from $59.80 million to $64.45 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for CareDx.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The company had revenue of $12.19 million for the quarter, compared to analysts’ expectations of $12.05 million. CareDx had a negative return on equity of 157.00% and a negative net margin of 84.14%. CareDx’s revenue was down 2.3% on a year-over-year basis.
Shares of CareDx (CDNA) traded down $0.24 during trading on Wednesday, hitting $7.06. The stock had a trading volume of 539,000 shares, compared to its average volume of 349,332. CareDx has a fifty-two week low of $0.76 and a fifty-two week high of $7.98. The company has a debt-to-equity ratio of -124.53, a quick ratio of 0.35 and a current ratio of 0.55.
In other news, major shareholder Neil Gagnon purchased 10,642 shares of CareDx stock in a transaction dated Thursday, October 5th. The shares were purchased at an average price of $4.00 per share, with a total value of $42,568.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Mitchell J. Nelles sold 10,948 shares of CareDx stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $7.17, for a total transaction of $78,497.16. Following the sale, the chief operating officer now directly owns 84,225 shares in the company, valued at approximately $603,893.25. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Gagnon Securities LLC raised its position in shares of CareDx by 3.9% during the 3rd quarter. Gagnon Securities LLC now owns 2,166,403 shares of the company’s stock valued at $8,016,000 after buying an additional 82,111 shares during the period. Royce & Associates LP raised its position in CareDx by 8.1% in the third quarter. Royce & Associates LP now owns 792,787 shares of the company’s stock valued at $2,933,000 after purchasing an additional 59,500 shares during the period. Private Wealth Partners LLC raised its position in CareDx by 2,250.0% in the third quarter. Private Wealth Partners LLC now owns 235,000 shares of the company’s stock valued at $869,000 after purchasing an additional 225,000 shares during the period. Thompson Davis & CO. Inc. raised its position in CareDx by 3,294.9% in the third quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock valued at $754,000 after purchasing an additional 197,692 shares during the period. Finally, Stonepine Capital Management LLC purchased a new stake in CareDx in the second quarter valued at approximately $212,000. 23.14% of the stock is currently owned by hedge funds and other institutional investors.
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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