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Wall Street Journal5 Analysts Assess CareDx: What You Need To Know
Throughout the last three months, 5 analysts have evaluated CareDx (NASDAQ:CDNA), offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 0 | 0 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 1 | 0 |
| 3M Ago | 2 | 0 | 0 | 0 | 0 |
Analysts have set 12-month price targets for CareDx, revealing an average target of $32.2, a high estimate of $40.00, and a low estimate of $26.00. Marking an increase of 50.96%, the current average surpasses the previous average price target of $21.33.
Understanding Analyst Ratings: A Comprehensive Breakdown
The standing of CareDx among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Matthew Sykes | Goldman Sachs | Raises | Buy | $35.00 | $26.00 |
| Brandon Couillard | Wells Fargo | Announces | Underweight | $28.00 | - |
| Sung Ji Nam | BTIG | Announces | Buy | $40.00 | - |
| Matthew Sykes | Goldman Sachs | Raises | Buy | $26.00 | $16.00 |
| Connor Chamberlain | Craig-Hallum | Raises | Buy | $32.00 | $22.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to CareDx. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of CareDx compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of CareDx's stock. This comparison reveals trends in analysts' expectations over time.
For valuable insights into CareDx's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on CareDx analyst ratings.
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Get to Know CareDx Better
CareDx Inc operates as a precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. It offers testing services, products, and digital solutions along with the pre-and post-transplant patient journey and is a provider of genomics-based information for transplant patients. The Company's commercially available testing services consist of AlloSure Kidney, AlloMap Heart, AlloSure Heart, a dd-cfDNA solution for heart transplant patients, and AlloSure Lung, a dd-cfDNA solution for lung transplant patients. Geographically the company generates the majority of its revenue from the United States. The company generates major revenue from the Testing services.
Breaking Down CareDx's Financial Performance
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining CareDx's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 31.26% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Health Care sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -1.51%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): CareDx's ROE excels beyond industry benchmarks, reaching -0.54%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): CareDx's ROA excels beyond industry benchmarks, reaching -0.3%. This signifies efficient management of assets and strong financial health.
Debt Management: CareDx's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.12.
The Significance of Analyst Ratings Explained
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.