$0.02 EPS Expected for CareDx, Inc (NASDAQ:CDNA) This Quarter

Equities analysts expect CareDx, Inc (NASDAQ:CDNA) to post earnings per share (EPS) of $0.02 for the current quarter, according to Zacks. Three analysts have provided estimates for CareDx’s earnings, with estimates ranging from $0.01 to $0.03. CareDx reported earnings per share of $0.08 in the same quarter last year, which suggests a negative year over year growth rate of 75%. The company is scheduled to issue its next earnings report on Wednesday, February 23rd.

Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CareDx.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, October 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.21. CareDx had a negative return on equity of 4.24% and a negative net margin of 6.54%. The company had revenue of $75.60 million for the quarter, compared to analyst estimates of $74.11 million. During the same quarter last year, the company posted ($0.06) EPS. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on CareDx from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. BTIG Research restated a “buy” rating and set a $99.00 price objective on shares of CareDx in a research report on Friday, October 29th. Zacks Investment Research lowered CareDx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 3rd. Finally, Raymond James reduced their price objective on CareDx from $108.00 to $90.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $97.60.

In other news, Director Michael Goldberg sold 500 shares of the business’s stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $62.50, for a total value of $31,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 10,000 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $49.40, for a total value of $494,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,658 shares of company stock worth $1,985,160 over the last ninety days. Company insiders own 4.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in CareDx by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,236,238 shares of the company’s stock worth $479,221,000 after buying an additional 236,715 shares during the period. ARK Investment Management LLC raised its stake in CareDx by 2.3% during the 2nd quarter. ARK Investment Management LLC now owns 4,564,110 shares of the company’s stock worth $417,707,000 after buying an additional 103,286 shares during the period. BlackRock Inc. raised its stake in CareDx by 3.1% during the 2nd quarter. BlackRock Inc. now owns 4,227,346 shares of the company’s stock worth $386,885,000 after buying an additional 127,928 shares during the period. Invesco Ltd. raised its stake in CareDx by 1.3% during the 3rd quarter. Invesco Ltd. now owns 2,999,340 shares of the company’s stock worth $190,068,000 after buying an additional 39,945 shares during the period. Finally, Matrix Capital Management Company LP raised its stake in CareDx by 20.9% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,739,807 shares of the company’s stock worth $159,227,000 after buying an additional 300,807 shares during the period.

Shares of CDNA traded up $2.18 during midday trading on Thursday, hitting $44.00. The company’s stock had a trading volume of 706,529 shares, compared to its average volume of 663,053. CareDx has a one year low of $39.16 and a one year high of $99.83. The company’s fifty day simple moving average is $59.11 and its two-hundred day simple moving average is $72.88. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -125.71 and a beta of 0.52.

About CareDx

CareDx, Inc operates as a transplant diagnostics company, which discovers, develops and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure and Laboratory products. The company was founded on December 21, 1998 and is headquartered in South San Francisco, CA.

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Earnings History and Estimates for CareDx (NASDAQ:CDNA)

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