Strength Seen in CareDx (CDNA): Can Its 6.1% Jump Turn into More Strength?

CareDx CDNA shares rallied 6.1% in the last trading session to close at $25.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.4% gain over the past four weeks.CareDx scored a strong price increase, driven by investors’ optimism surrounding the release of its preliminary fourth-quarter 2024 results on Jan. 13. The company announced that the total revenues are expected to be in the range of $85-$86 million, an increase of 30% year over year. The Zacks Consensus Estimate for the metric suggests a growth of 25.2%. Testing service revenue is expected to surge nearly 35% year over year, driven by an approximately 14% increase in volumes.  This molecular diagnostics company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +141.2%. Revenues are expected to be $82.12 million, up 25.2% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For CareDx, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CDNA going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>CareDx is a member of the Zacks Medical Services industry. One other stock in the same industry, Avantor, Inc. AVTR, finished the last trading session 1.7% higher at $22.02. AVTR has returned -3% over the past month.For Avantor, the consensus EPS estimate for the upcoming report has changed -0.7% over the past month to $0.26. This represents a change of +4% from what the company reported a year ago. Avantor currently has a Zacks Rank of #4 (Sell).Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CareDx, Inc. (CDNA): Free Stock Analysis Report Avantor, Inc. (AVTR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks