Caredx Inc Stock Price To Book
| CDNA Stock | USD 9.72 0.45 4.85% |
Caredx Inc fundamentals help investors to digest information that contributes to Caredx's financial success or failures. It also enables traders to predict the movement of Caredx Stock. The fundamental analysis module provides a way to measure Caredx's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Caredx stock.
The current year's Price To Book Ratio is expected to grow to 2.59. Caredx | Price To Book |
Caredx Inc Company Price To Book Analysis
Caredx's Price to Book (P/B) ratio is used to relate a company book value to its current market price. A high P/B ratio indicates that investors expect executives to generate more returns on their investments from a given set of assets. Book value is the accounting value of assets minus liabilities.
Current Caredx Price To Book | 1.69 X |
Most of Caredx's fundamental indicators, such as Price To Book, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Caredx Inc is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Caredx Price To Book Driver Correlations
Understanding the fundamental principles of building solid financial models for Caredx is extremely important. It helps to project a fair market value of Caredx Stock properly, considering its historical fundamentals such as Price To Book. Since Caredx's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Caredx's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Caredx's interrelated accounts and indicators.
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Price to Book ratio is mostly used in financial services industries where assets and liabilities are typically represented by dollars. Although low Price to Book ratio generally implies that the firm is undervalued, it is often a good indicator that the company may be in financial or managerial distress and should be investigated more carefully.
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Caredx Book Value Per Share
Book Value Per Share |
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Based on the latest financial disclosure, Caredx Inc has a Price To Book of 1.6861 times. This is 93.43% lower than that of the Biotechnology sector and 77.81% lower than that of the Health Care industry. The price to book for all United States stocks is 82.27% higher than that of the company.
Caredx Price To Book Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Caredx's direct or indirect competition against its Price To Book to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Caredx could also be used in its relative valuation, which is a method of valuing Caredx by comparing valuation metrics of similar companies.Caredx is rated below average in price to book category among related companies.
Caredx Current Valuation Drivers
We derive many important indicators used in calculating different scores of Caredx from analyzing Caredx's financial statements. These drivers represent accounts that assess Caredx's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Caredx's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 909.2M | 3.4B | 2.4B | 608.4M | 547.6M | 686.5M | |
| Enterprise Value | 874.0M | 3.2B | 2.0B | 557.5M | 501.7M | 785.8M |
Caredx Fundamentals
| Return On Equity | -0.55 | ||||
| Return On Asset | -0.13 | ||||
| Profit Margin | (0.68) % | ||||
| Operating Margin | (0.38) % | ||||
| Current Valuation | 302.09 M | ||||
| Shares Outstanding | 52.01 M | ||||
| Shares Owned By Insiders | 4.69 % | ||||
| Shares Owned By Institutions | 96.52 % | ||||
| Number Of Shares Shorted | 4.69 M | ||||
| Price To Earning | (4.25) X | ||||
| Price To Book | 1.69 X | ||||
| Price To Sales | 1.58 X | ||||
| Revenue | 280.32 M | ||||
| Gross Profit | 209.58 M | ||||
| EBITDA | (82.08 M) | ||||
| Net Income | (190.28 M) | ||||
| Cash And Equivalents | 306.22 M | ||||
| Cash Per Share | 5.73 X | ||||
| Total Debt | 34.22 M | ||||
| Debt To Equity | 0.04 % | ||||
| Current Ratio | 5.15 X | ||||
| Book Value Per Share | 5.07 X | ||||
| Cash Flow From Operations | (18.39 M) | ||||
| Short Ratio | 7.01 X | ||||
| Earnings Per Share | (3.54) X | ||||
| Price To Earnings To Growth | (0.12) X | ||||
| Target Price | 13.0 | ||||
| Number Of Employees | 635 | ||||
| Beta | 1.45 | ||||
| Market Capitalization | 505.52 M | ||||
| Total Asset | 484.62 M | ||||
| Retained Earnings | (678.27 M) | ||||
| Working Capital | 235.64 M | ||||
| Current Asset | 34.36 M | ||||
| Current Liabilities | 10.15 M | ||||
| Net Asset | 484.62 M |
About Caredx Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Caredx Inc's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Caredx using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Caredx Inc based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Caredx Investors Sentiment
The influence of Caredx's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Caredx. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Caredx's public news can be used to forecast risks associated with an investment in Caredx. The trend in average sentiment can be used to explain how an investor holding Caredx can time the market purely based on public headlines and social activities around Caredx Inc. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Caredx's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Caredx's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Caredx's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Caredx.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Caredx in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Caredx's short interest history, or implied volatility extrapolated from Caredx options trading.
Pair Trading with Caredx
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Caredx position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Caredx will appreciate offsetting losses from the drop in the long position's value.Moving together with Caredx Stock
| 0.65 | BMY | Bristol Myers Squibb Earnings Call This Week | PairCorr |
| 0.61 | JNJ | Johnson Johnson Financial Report 18th of July 2024 | PairCorr |
Moving against Caredx Stock
| 0.45 | QLI | Qilian International | PairCorr |
The ability to find closely correlated positions to Caredx could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Caredx when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Caredx - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Caredx Inc to buy it.
The correlation of Caredx is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Caredx moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caredx Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Caredx can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Caredx Piotroski F Score and Caredx Altman Z Score analysis. You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for Caredx Stock analysis
When running Caredx's price analysis, check to measure Caredx's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Caredx is operating at the current time. Most of Caredx's value examination focuses on studying past and present price action to predict the probability of Caredx's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Caredx's price. Additionally, you may evaluate how the addition of Caredx to your portfolios can decrease your overall portfolio volatility.
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Is Caredx's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Caredx. If investors know Caredx will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Caredx listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (3.54) | Revenue Per Share 5.214 | Quarterly Revenue Growth (0.20) | Return On Assets (0.13) | Return On Equity (0.55) |
The market value of Caredx Inc is measured differently than its book value, which is the value of Caredx that is recorded on the company's balance sheet. Investors also form their own opinion of Caredx's value that differs from its market value or its book value, called intrinsic value, which is Caredx's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Caredx's market value can be influenced by many factors that don't directly affect Caredx's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Caredx's value and its price as these two are different measures arrived at by different means. Investors typically determine if Caredx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Caredx's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.