$45.45 Million in Sales Expected for CareDx Inc (NASDAQ:CDNA) This Quarter

Analysts forecast that CareDx Inc (NASDAQ:CDNA) will announce $45.45 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for CareDx’s earnings, with the lowest sales estimate coming in at $44.50 million and the highest estimate coming in at $46.34 million. CareDx reported sales of $33.81 million during the same quarter last year, which indicates a positive year over year growth rate of 34.4%. The firm is expected to report its next earnings results on Thursday, October 29th.

On average, analysts expect that CareDx will report full-year sales of $173.11 million for the current financial year, with estimates ranging from $171.10 million to $175.94 million. For the next financial year, analysts forecast that the business will report sales of $212.42 million, with estimates ranging from $201.15 million to $224.83 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover CareDx.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. CareDx had a negative net margin of 12.66% and a negative return on equity of 13.58%. The company had revenue of $41.80 million for the quarter, compared to analysts’ expectations of $35.61 million. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year.

Several brokerages have commented on CDNA. Zacks Investment Research downgraded CareDx from a “hold” rating to a “sell” rating in a research note on Monday, August 10th. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price target on shares of CareDx in a report on Monday, August 10th. BidaskClub lowered shares of CareDx from a “buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Piper Sandler reiterated a “buy” rating and issued a $54.00 price objective on shares of CareDx in a research report on Monday, June 29th. Finally, BTIG Research lifted their price objective on CareDx from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $43.38.

In other CareDx news, CEO Peter Maag sold 10,000 shares of CareDx stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $34.21, for a total transaction of $342,100.00. Following the completion of the sale, the chief executive officer now owns 421,974 shares of the company’s stock, valued at $14,435,730.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 51,190 shares of company stock worth $1,774,847 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB bought a new position in CareDx during the second quarter valued at approximately $9,552,000. Citigroup Inc. boosted its stake in shares of CareDx by 500.1% in the 1st quarter. Citigroup Inc. now owns 50,238 shares of the company’s stock valued at $1,097,000 after purchasing an additional 41,867 shares in the last quarter. Swiss National Bank boosted its stake in shares of CareDx by 21.5% in the 2nd quarter. Swiss National Bank now owns 90,000 shares of the company’s stock valued at $3,189,000 after purchasing an additional 15,900 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of CareDx during the 2nd quarter valued at $886,000. Finally, Mutual of America Capital Management LLC raised its position in CareDx by 32.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 80,657 shares of the company’s stock worth $2,858,000 after purchasing an additional 19,756 shares during the period.

Shares of NASDAQ CDNA traded up $0.44 during trading on Friday, reaching $34.19. 348,475 shares of the stock traded hands, compared to its average volume of 669,045. CareDx has a 52-week low of $13.04 and a 52-week high of $37.54. The company has a 50-day moving average of $33.23 and a 200-day moving average of $29.05. The stock has a market capitalization of $1.67 billion, a P/E ratio of -77.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.42 and a quick ratio of 4.26.

CareDx Company Profile

CareDx, Inc, a precision medicine company, discovers, develops, and commercializes healthcare solutions for transplant patients and caregivers worldwide. It offers AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; and AlloMap Heart, a gene expression solution for heart transplant patients.

Read More: Hold Rating

Get a free copy of the Zacks research report on CareDx (CDNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CareDx (NASDAQ:CDNA)

Receive News & Ratings for CareDx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CareDx and related companies with MarketBeat.com's FREE daily email newsletter.