Bank of Montreal Can Reduces Position in CareDx, Inc (NASDAQ:CDNA)

Bank of Montreal Can decreased its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 97.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,629 shares of the company's stock after selling 382,190 shares during the period. Bank of Montreal Can's holdings in CareDx were worth $228,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CDNA. Vanguard Group Inc. increased its stake in shares of CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after purchasing an additional 323,554 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CareDx by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock valued at $26,432,000 after buying an additional 6,539 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of CareDx by 25.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock worth $18,738,000 after buying an additional 178,304 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CareDx by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 511,922 shares of the company's stock valued at $10,960,000 after buying an additional 12,442 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of CareDx by 23.1% during the 4th quarter. Royce & Associates LP now owns 484,286 shares of the company's stock valued at $10,369,000 after buying an additional 91,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

CDNA has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and decreased their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. HC Wainwright decreased their price target on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Stephens reiterated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. StockNews.com upgraded CareDx from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CareDx presently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

CareDx Price Performance

CareDx stock traded down $0.23 during trading on Monday, reaching $18.25. 1,025,788 shares of the company were exchanged, compared to its average volume of 853,324. The stock's 50 day simple moving average is $19.07 and its two-hundred day simple moving average is $21.81. The company has a market capitalization of $1.01 billion, a P/E ratio of -6.76 and a beta of 2.18. CareDx, Inc has a 52-week low of $7.61 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share 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 firm had revenue of $86.58 million for the quarter, compared to analysts' expectations of $84.56 million. As a group, equities analysts forecast that CareDx, Inc will post -0.9 earnings per share for the current year.

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.