CareDx (NASDAQ:CDNA) Stock Rating Lowered by Zacks Research

CareDx (NASDAQ:CDNA) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Craig Hallum dropped their target price on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Wall Street Zen raised shares of CareDx from a “sell” rating to a “hold” rating in a research report on Monday. William Blair initiated coverage on shares of CareDx in a research report on Tuesday, August 26th. They set a “market perform” rating on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of CareDx in a research report on Wednesday, October 8th. Finally, BTIG Research reissued a “buy” rating and set a $22.00 target price on shares of CareDx in a research report on Tuesday, September 23rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.50.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $15.19 on Monday. CareDx has a fifty-two week low of $10.96 and a fifty-two week high of $26.37. The stock has a market cap of $808.52 million, a price-to-earnings ratio of 14.89 and a beta of 2.37. The firm’s 50-day simple moving average is $13.91 and its 200 day simple moving average is $15.89.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The business had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. During the same period in the previous year, the business posted $0.25 EPS. CareDx’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts predict that CareDx will post -0.9 EPS for the current year.

Institutional Investors Weigh In On CareDx

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of CareDx during the 1st quarter worth approximately $375,000. Acadian Asset Management LLC increased its stake in shares of CareDx by 6.1% during the 1st quarter. Acadian Asset Management LLC now owns 359,303 shares of the company’s stock worth $6,373,000 after purchasing an additional 20,806 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of CareDx by 67.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company’s stock worth $950,000 after purchasing an additional 21,627 shares during the last quarter. Strs Ohio purchased a new stake in shares of CareDx during the 1st quarter worth approximately $462,000. Finally, US Bancorp DE increased its stake in shares of CareDx by 7.2% during the 1st quarter. US Bancorp DE now owns 18,403 shares of the company’s stock worth $327,000 after purchasing an additional 1,235 shares during the last quarter.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides 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; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.