CareDx, Inc (NASDAQ:CDNA) Expected to Announce Quarterly Sales of $68.02 Million

Equities research analysts expect CareDx, Inc (NASDAQ:CDNA) to report $68.02 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for CareDx’s earnings. The lowest sales estimate is $66.80 million and the highest is $68.89 million. CareDx reported sales of $41.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 62.7%. The firm is expected to issue its next earnings results on Tuesday, August 3rd.

According to Zacks, analysts expect that CareDx will report full-year sales of $278.44 million for the current fiscal year, with estimates ranging from $277.00 million to $279.88 million. For the next fiscal year, analysts anticipate that the company will post sales of $338.82 million, with estimates ranging from $327.00 million to $350.27 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover CareDx.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.13. The business had revenue of $67.40 million for the quarter, compared to analyst estimates of $60.77 million. CareDx had a negative net margin of 6.14% and a negative return on equity of 4.25%.

Several equities research analysts recently weighed in on the stock. HC Wainwright lowered shares of CareDx from a “buy” rating to a “neutral” rating in a research note on Friday, February 26th. TheStreet upgraded shares of CareDx from a “d” rating to a “c-” rating in a research report on Friday, March 19th. Piper Sandler upped their target price on shares of CareDx from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 6th. Raymond James decreased their target price on shares of CareDx from $98.00 to $90.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 6th. Finally, Zacks Investment Research upgraded shares of CareDx from a “sell” rating to a “hold” rating in a research report on Tuesday, April 27th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $76.13.

In related news, insider Peter Maag sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $76.64, for a total transaction of $1,532,800.00. Following the completion of the sale, the insider now directly owns 420,343 shares in the company, valued at $32,215,087.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George Bickerstaff sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the sale, the director now owns 71,538 shares of the company’s stock, valued at approximately $4,511,901.66. The disclosure for this sale can be found here. Insiders sold 181,286 shares of company stock valued at $13,922,930 over the last quarter. Insiders own 4.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Capital Asset Advisory Services LLC purchased a new stake in shares of CareDx in the 4th quarter valued at approximately $32,000. IFP Advisors Inc lifted its position in shares of CareDx by 16,600.0% in the 1st quarter. IFP Advisors Inc now owns 501 shares of the company’s stock valued at $34,000 after acquiring an additional 498 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of CareDx by 22.0% in the 4th quarter. Advisory Services Network LLC now owns 638 shares of the company’s stock valued at $46,000 after acquiring an additional 115 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of CareDx in the 1st quarter valued at approximately $48,000. Finally, Orion Capital Management LLC purchased a new stake in CareDx in the 4th quarter worth approximately $51,000.

CDNA opened at $93.72 on Thursday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -323.16 and a beta of 0.67. CareDx has a fifty-two week low of $29.86 and a fifty-two week high of $99.83. The stock’s 50-day simple moving average is $79.28.

About CareDx

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It offers AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; and AlloSure Heart, a dd-cfDNA test to identify underlying cell injury leading to organ rejection.

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Earnings History and Estimates for CareDx (NASDAQ:CDNA)

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