CareDx, Inc (NASDAQ:CDNA) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 58.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,339 shares of the company’s stock after purchasing an additional 103,862 shares during the period. Prudential Financial Inc.’s holdings in CareDx were worth $6,023,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in CareDx by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock worth $104,047,000 after buying an additional 323,554 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of CareDx in the fourth quarter worth $208,000. Hillsdale Investment Management Inc. increased its position in shares of CareDx by 30.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 177,980 shares of the company’s stock worth $3,811,000 after acquiring an additional 41,150 shares during the period. Sei Investments Co. raised its stake in shares of CareDx by 13.6% in the fourth quarter. Sei Investments Co. now owns 47,105 shares of the company’s stock valued at $1,009,000 after acquiring an additional 5,649 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in CareDx by 19.6% in the fourth quarter. Teacher Retirement System of Texas now owns 14,878 shares of the company’s stock valued at $319,000 after purchasing an additional 2,442 shares during the period.

CareDx Stock Down 2.1 %

Shares of CDNA opened at $17.96 on Monday. The company has a market capitalization of $995.45 million, a price-to-earnings ratio of -6.65 and a beta of 1.95. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The stock has a 50 day moving average price of $21.39 and a 200 day moving average price of $23.60.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $1.46. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $84.56 million. On average, equities analysts anticipate that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CDNA. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright reduced their target price on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Stephens reiterated an “overweight” rating and set a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

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.