CareDx
CDNA on Nasdaq. CareDx sells transplant tests and products to doctors and transplant patients. Market value $3.6bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$69.85 a share, 401% above its 1-year low
Over the past year the price has ranged from $13.95 to $70.75.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $296m | $322m | $280m | $334m | $380m |
| Operating margin | |||||
| Operating margin | -10.0% | -24.0% | -72.5% | 12.2% | -8.1% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.05bn | 0.05bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)4 of 7 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsStrong, 14.6% a year
- Buying back its own sharesYes, 3% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $132 million last quarter, up 52% on a year ago.
- Profit: $111 million, after a loss of $9 million a year ago.
- It keeps 24 cents of each $1 of sales as operating profit, up from 14 cents a year earlier.
- 2% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $83m |
| December 2024 | $87m |
| March 2025 | $85m |
| June 2025 | $87m |
| September 2025 | $100m |
| December 2025 | $108m |
| March 2026 | $118m |
| June 2026 | $132m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$11m |
| December 2024 | $88m |
| March 2025 | -$10m |
| June 2025 | -$9m |
| September 2025 | $2m |
| December 2025 | -$4m |
| March 2026 | $3m |
| June 2026 | $111m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 227 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Boston PartnersBoston Partners team | $55m | <0.1% | Added |
| First Eagle Investment ManagementMatthew McLennan | $34m | <0.1% | Added |
| Royce & AssociatesChuck Royce | $16m | 0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | Cut |
Largest holders overall
- BlackRock$137mAdded
- State Street$70mCut
- Vanguard Capital Management$63m
- Deerfield Management Company, L.P.$57mCut
- ARK Investment Management$56mCut
- Boston Partners$55mAdded
- Bamco$55mCut
- Gagnon Securities$50m
- Chevy Chase Trust Holdings$41mCut
- Geode Capital Management$38mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor9.0%+1.0 ptsSince 30 June 2026
- Neil GagnonPassive investorat least 4.4%−1.5 pts(filed with 2 related holders)Since 31 July 2026
- Baron Capital Group, Inc.Passive investorat least 3.8%−2.2 pts(filed with 3 related holders)Since 30 June 2026
- STATE STREET CORPORATIONPassive investorSold down below 5%Since 30 June 2026
- ARK Investment Management LLCPassive investorSold down below 5%Since 31 December 2024
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 9.0%+1.0 pts | 30 June 2026 | |
Neil Gagnon Passive investor | at least 4.4%−1.5 pts (filed with 2 related holders) | 31 July 2026 | |
Baron Capital Group, Inc. Passive investor | at least 3.8%−2.2 pts (filed with 3 related holders) | 30 June 2026 | |
STATE STREET CORPORATION Passive investor | Sold down below 5% | 30 June 2026 | |
ARK Investment Management LLC Passive investor | Sold down below 5% | 31 December 2024 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $13m, $10m of it under preset trading plans.
- Novack Jeffrey AdamSecretary and General CounselSoldunder a preset trading plan
- Date
- 5 August 2026
- Shares
- 2,688
- Price
- $46.26
- Value
- $124,349
- Bickerstaff GeorgeDirectorSold
- Date
- 5 August 2026
- Shares
- 20,000
- Price
- $46.28
- Value
- $925,700
- Goldberg MichaelDirectorSold
- Date
- 4 August 2026
- Shares
- 44,700
- Price
- $47.06
- Value
- $2m
- COURNOYER CHRISTINEDirectorSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 16,000
- Price
- $46.94
- Value
- $750,973
- Valantine HannahDirectorSoldunder a preset trading plan
- Date
- 16 July 2026
- Shares
- 28,779
- Price
- $36.15
- Value
- $1m
- Hanna John Walter JRPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 16 July 2026
- Shares
- 118,000
- Price
- $37.79
- Value
- $4m
- Hanna John Walter JRPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 29 June 2026
- Shares
- 39,900
- Price
- $29.24
- Value
- $1m
- Hanna John Walter JRPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 26 June 2026
- Shares
- 100
- Price
- $29.00
- Value
- $2,900
- Hanna John Walter JRPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 15 June 2026
- Shares
- 17,683
- Price
- $24.03
- Value
- $424,922
- Valantine HannahDirectorSoldunder a preset trading plan
- Date
- 15 June 2026
- Shares
- 12,103
- Price
- $23.11
- Value
- $279,700
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 August 2026 | Novack Jeffrey Adam Secretary and General Counsel | Sold under a preset trading plan | 2,688 | $46.26 | $124,349 |
| 5 August 2026 | Bickerstaff George Director | Sold | 20,000 | $46.28 | $925,700 |
| 4 August 2026 | Goldberg Michael Director | Sold | 44,700 | $47.06 | $2m |
| 4 August 2026 | COURNOYER CHRISTINE Director | Sold under a preset trading plan | 16,000 | $46.94 | $750,973 |
| 16 July 2026 | Valantine Hannah Director | Sold under a preset trading plan | 28,779 | $36.15 | $1m |
| 16 July 2026 | Hanna John Walter JR President and CEO, Director | Sold under a preset trading plan | 118,000 | $37.79 | $4m |
| 29 June 2026 | Hanna John Walter JR President and CEO, Director | Sold under a preset trading plan | 39,900 | $29.24 | $1m |
| 26 June 2026 | Hanna John Walter JR President and CEO, Director | Sold under a preset trading plan | 100 | $29.00 | $2,900 |
| 15 June 2026 | Hanna John Walter JR President and CEO, Director | Sold under a preset trading plan | 17,683 | $24.03 | $424,922 |
| 15 June 2026 | Valantine Hannah Director | Sold under a preset trading plan | 12,103 | $23.11 | $279,700 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Feb 2026, plus the 10-Q filed 30 Jul 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.