CareDx Inc (CDNA) Expected to Post Quarterly Sales of $12.09 Million

Wall Street brokerages expect CareDx Inc (NASDAQ:CDNA) to report sales of $12.09 million for the current quarter, according to Zacks. Two analysts have issued estimates for CareDx’s earnings, with the highest sales estimate coming in at $12.40 million and the lowest estimate coming in at $11.77 million. CareDx reported sales of $10.86 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.3%. The business is scheduled to report its next quarterly earnings results on Friday, April 20th.

On average, analysts expect that CareDx will report full year sales of $12.09 million for the current financial year, with estimates ranging from $47.59 million to $48.20 million. For the next fiscal year, analysts forecast that the company will post sales of $61.33 million per share, with estimates ranging from $59.80 million to $62.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover CareDx.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, November 9th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The business had revenue of $12.19 million during the quarter, compared to analysts’ expectations of $12.05 million. CareDx had a negative net margin of 84.14% and a negative return on equity of 157.00%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year.

CDNA has been the subject of a number of research reports. HC Wainwright initiated coverage on shares of CareDx in a research note on Monday, November 27th. They set a “buy” rating and a $12.00 target price for the company. Zacks Investment Research cut shares of CareDx from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine cut shares of CareDx from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $8.65.

In related news, insider James P. Yee sold 29,197 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $7.00, for a total transaction of $204,379.00. Following the completion of the sale, the insider now owns 74,795 shares of the company’s stock, valued at approximately $523,565. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Mitchell J. Nelles sold 10,948 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $603,893.25. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNA. Private Wealth Partners LLC grew its stake in CareDx by 2,250.0% during the 3rd quarter. Private Wealth Partners LLC now owns 235,000 shares of the company’s stock valued at $869,000 after acquiring an additional 225,000 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake in CareDx by 3,294.9% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock valued at $754,000 after acquiring an additional 197,692 shares in the last quarter. Perkins Capital Management Inc. purchased a new stake in CareDx during the 3rd quarter valued at about $513,000. Gagnon Securities LLC grew its stake in 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 acquiring an additional 82,111 shares in the last quarter. Finally, Royce & Associates LP grew its stake in CareDx by 8.1% during the 3rd quarter. Royce & Associates LP now owns 792,787 shares of the company’s stock valued at $2,933,000 after acquiring an additional 59,500 shares in the last quarter. 23.36% of the stock is owned by institutional investors.

Shares of CareDx (NASDAQ:CDNA) opened at $5.87 on Thursday. The company has a market cap of $167.62, a PE ratio of -3.24 and a beta of 0.70. The company has a debt-to-equity ratio of -124.53, a quick ratio of 0.35 and a current ratio of 0.55. CareDx has a one year low of $0.76 and a one year high of $7.98.

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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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