Market Analysts see Caredx Inc [CDNA] gaining to $10. Time to buy?

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Caredx Inc [NASDAQ: CDNA] jumped around 0.88 points on Thursday, while shares priced at $7.21 at the close of the session, up 13.90%. The company report on November 8, 2023 at 4:05 PM that CareDx Reports Third Quarter 2023 Results.

CareDx, Inc. (Nasdaq: CDNA) — The Transplant Company™ focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers — today reported financial results for the third quarter ended September 30, 2023.

Caredx Inc stock is now -36.81% down from its year-to-date (YTD) trading value. CDNA Stock saw the intraday high of $8.00 and lowest of $7.12 per share. The company’s 52-week high price is 18.04, which means current price is +50.21% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 836.15K shares, CDNA reached a trading volume of 3341100 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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What do top market gurus say about Caredx Inc [CDNA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDNA shares is $10.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDNA stock is a recommendation set at 2.29. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Caredx Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 09, 2023.

The Average True Range (ATR) for Caredx Inc is set at 0.56, with the Price to Sales ratio for CDNA stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 5.22.

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How has CDNA stock performed recently?

Caredx Inc [CDNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.18. With this latest performance, CDNA shares gained by 22.62% in over the last four-week period, additionally sinking by -13.76% over the last 6 months – not to mention a drop of -56.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDNA stock in for the last two-week period is set at 64.50, with the RSI for the last a single of trading hit 73.66, and the three-weeks RSI is set at 57.47 for Caredx Inc [CDNA]. The present Moving Average for the last 50 days of trading for this stock 6.85, while it was recorded at 6.59 for the last single week of trading, and 9.26 for the last 200 days.

Caredx Inc [CDNA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Caredx Inc [CDNA] shares currently have an operating margin of -24.00 and a Gross Margin at +64.43. Caredx Inc’s Net Margin is presently recorded at -23.81.

Return on Total Capital for CDNA is now -16.14, given the latest momentum, and Return on Invested Capital for the company is -16.17. Return on Equity for this stock declined to -17.09, with Return on Assets sitting at -13.45. When it comes to the capital structure of this company, Caredx Inc [CDNA] has a Total Debt to Total Equity ratio set at 9.05. Additionally, CDNA Total Debt to Total Capital is recorded at 8.30, with Total Debt to Total Assets ending up at 6.95. Long-Term Debt to Equity for the company is recorded at 7.75, with the Long-Term Debt to Total Capital now at 7.11.

Reflecting on the efficiency of the workforce at the company, Caredx Inc [CDNA] managed to generate an average of -$103,812 per employee. Receivables Turnover for the company is 5.10 with a Total Asset Turnover recorded at a value of 0.57.Caredx Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.59 and a Current Ratio set at 4.84.

Earnings analysis for Caredx Inc [CDNA]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Caredx Inc go to 20.00%.

Insider trade positions for Caredx Inc [CDNA]

The top three institutional holders of CDNA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CDNA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CDNA stock with ownership which is approximately 5.7994%.

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