$13.86 Million in Sales Expected for CareDx (CDNA) This Quarter

Wall Street brokerages expect that CareDx (NASDAQ:CDNA) will post $13.86 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for CareDx’s earnings. The highest sales estimate is $16.10 million and the lowest is $12.00 million. CareDx reported sales of $11.58 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.7%. The firm is expected to report its next earnings results on Friday, June 8th.

On average, analysts expect that CareDx will report full-year sales of $61.28 million for the current year, with estimates ranging from $60.21 million to $62.69 million. For the next fiscal year, analysts anticipate that the company will report sales of $86.41 million per share, with estimates ranging from $83.51 million to $92.80 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for CareDx.

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CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, March 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. CareDx had a negative net margin of 114.79% and a negative return on equity of 349.65%. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $12.09 million.

Several analysts have issued reports on the stock. HC Wainwright set a $12.00 price objective on shares of CareDx and gave the company a “buy” rating in a research report on Thursday, April 12th. TheStreet raised shares of CareDx from a “d-” rating to a “c-” rating in a research report on Tuesday, April 10th. ValuEngine raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. CareDx has an average rating of “Buy” and a consensus price target of $8.65.

Shares of NASDAQ:CDNA opened at $8.95 on Tuesday. The company has a debt-to-equity ratio of -3.08, a current ratio of 0.62 and a quick ratio of 0.50. CareDx has a 52-week low of $0.76 and a 52-week high of $9.29. The company has a market capitalization of $261.96, a price-to-earnings ratio of -11.62 and a beta of 0.35.

In other news, insider Peter Maag sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $7.87, for a total transaction of $118,050.00. Following the completion of the sale, the insider now owns 272,037 shares of the company’s stock, valued at $2,140,931.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CDNA. FNY Partners Fund LP acquired a new position in CareDx in the fourth quarter worth $102,000. Two Sigma Advisers LP acquired a new position in CareDx in the fourth quarter worth $105,000. Wells Fargo & Company MN boosted its holdings in CareDx by 1,360.6% in the fourth quarter. Wells Fargo & Company MN now owns 16,636 shares of the company’s stock worth $122,000 after purchasing an additional 15,497 shares during the period. Bank of Montreal Can acquired a new position in CareDx in the fourth quarter worth $130,000. Finally, Goldman Sachs Group Inc. acquired a new position in CareDx in the fourth quarter worth $134,000. 51.50% of the stock is owned by institutional investors and hedge funds.

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About CareDx

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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