Principal Financial Group Inc. Has $406,000 Stock Position in CareDx, Inc (NASDAQ:CDNA)

Principal Financial Group Inc. raised its position in shares of CareDx, Inc (NASDAQ:CDNA) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,984 shares of the company’s stock after purchasing an additional 1,151 shares during the period. Principal Financial Group Inc.’s holdings in CareDx were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CDNA. Creative Planning acquired a new position in CareDx during the third quarter valued at approximately $204,000. KBC Group NV bought a new position in shares of CareDx in the 3rd quarter valued at $99,000. Royce & Associates LP lifted its stake in shares of CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after acquiring an additional 1,000 shares during the last quarter. Quest Partners LLC lifted its stake in shares of CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of CareDx by 78.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after acquiring an additional 306,222 shares during the last quarter.

CareDx Stock Up 0.1 %

Shares of NASDAQ:CDNA opened at $18.92 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of -7.01 and a beta of 1.87. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84. The business has a fifty day simple moving average of $22.56 and a 200 day simple moving average of $24.87.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $86.58 million during the quarter, compared to analyst estimates of $84.56 million. As a group, equities research analysts expect that CareDx, Inc will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

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

CareDx 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.