Who Owns CareDx Company?

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Who Owns CareDx?

Understanding CareDx's ownership is key to its strategic path. The company went public in July 2014, offering 4,000,000 shares at $10 each on NASDAQ.

Originally Hippocratic Engineering, Inc., founded in 1998, CareDx is now a leader in precision medicine for transplant patients. Its Q1 2025 revenue reached $84.7 million, with 2024 revenue at $333.8 million, a 19% jump from 2023.

The ownership landscape of CareDx includes its founders, major institutional investors, and the broader public shareholder base. As a publicly traded entity, its ownership is dynamic and influenced by market performance and strategic decisions. The company's focus on advancing transplant care through diagnostics, including products like the CareDx BCG Matrix, shapes its investor appeal.

CareDx's journey began on December 21, 1998, in Delaware, under the initial name Hippocratic Engineering, Inc. Founded in Palo Alto, California, its inception was driven by visionary founders like Dr. John Scandling and Dr. Minnie Sarwal, who recognized a significant gap in organ transplant diagnostics.

Founding Vision

The company was established with a clear mission to advance diagnostic tools for organ transplantation. Founders focused on developing cutting-edge solutions in precision medicine.

Early Identity Evolution

Over its initial years, the company adopted several names, including BioCardia, Inc., Expression Diagnostics, Inc., and XDx, Inc. These changes reflected its evolving business strategy and market positioning.

Initial Funding Landscape

Significant early backing came from prominent investors such as Intel and Credit Suisse. The company successfully raised a substantial $138 million across 17 funding rounds prior to its initial public offering.

Founders' Equity

While specific details regarding the founders' initial equity stakes are not publicly disclosed, their expertise in diagnostics was foundational. The earliest recorded funding round occurred in April 2004.

Name Change to CareDx

The company officially became CareDx, Inc. in March 2014, marking a significant milestone. This rebranding solidified its identity in the precision medicine landscape.

Early Investor Support

Intel Capital was among the early investors, contributing to the company's growth trajectory. This early financial support was crucial for its development before becoming a publicly traded entity.

The early ownership structure of CareDx, while not detailed publicly regarding specific founder equity splits or early shareholder disputes, was shaped by its incorporation as Hippocratic Engineering, Inc. in 1998 and subsequent name changes, culminating in the adoption of the CareDx, Inc. name in March 2014. This period saw significant financial backing, with notable investors like Intel and Credit Suisse participating in funding rounds that totaled $138 million before the company's IPO. The company's history, including these early stages, is further detailed in a Brief History of CareDx.

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CareDx became a publicly traded entity on July 16, 2014, through its Initial Public Offering (IPO) on The NASDAQ Global Market under the ticker symbol 'CDNA'. The IPO offered 4,000,000 shares of common stock at $10 per share, marking a significant shift in its ownership structure.

The ownership landscape of CareDx is diversified, comprising institutional investors, company insiders, and the broader public market. As of April 15, 2025, the company had 55,596,737 shares of common stock outstanding. Institutional investors hold a substantial portion, approximately 49.54%, indicating significant backing from large financial entities. Insiders, which include company executives and directors, own about 9.42% of the shares. The remaining 41.04% is held by public companies and individual investors. This distribution of CareDx ownership influences its strategic direction and corporate governance, with major shareholders often playing a key role in decision-making processes. Understanding who owns CareDx is crucial for assessing its market position and future trajectory.

Key Institutional Holders of CareDx

Major institutional investors are significant stakeholders in CareDx, influencing its strategic direction and governance.

• Blackrock, Inc. held 5,074,298 shares as of March 31, 2025.
• Vanguard Group Inc. owned 4,834,073 shares as of March 31, 2025.
• Invesco Ltd. possessed 2,667,861 shares as of March 31, 2025.
• Other notable institutional holders as of July 2025 include Allspring Global Investments Holdings LLC, CWM LLC, Gagnon Securities LLC, and Goldman Sachs Group Inc.

Neil Gagnon stands out as a significant insider shareholder, holding 2,549,578 shares according to a recent report. The influence of these major shareholders, particularly institutional investors, can be substantial, impacting everything from capital allocation to the adoption of new strategies, as detailed in discussions on the Marketing Strategy of CareDx. The active participation of these entities underscores the importance of CareDx stock performance and its overall market valuation.

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The CareDx Board of Directors is responsible for the company's strategic direction and governance. Key members include John W. Hanna, President and CEO since April 2024, and Michael Goldberg, Chairman of the Board since November 2011. Fred E. Cohen, a long-standing board member since January 2003, also contributes significantly to the board's expertise.

CareDx operates with a straightforward voting structure: one share of common stock equals one vote. This means that shareholders have voting power directly proportional to the number of shares they own as of the record date. The company's governance framework does not allow for cumulative voting in director elections, ensuring a direct representation of shareholder holdings in board appointments. As of April 15, 2025, the total number of outstanding common shares eligible to vote was 55,596,737. Furthermore, participants in the company's 2024 Equity Incentive Plan who hold Restricted Stock Awards typically possess voting rights for those shares, subject to any specific board determinations. The recent Annual Meeting on June 12, 2025, saw stockholders approve the election of Fred E. Cohen and R. Bryan Riggsbee to the board as Class II directors, alongside an amendment to the 2024 Equity Incentive Plan, reflecting ongoing governance adjustments and reinforcing the importance of understanding Growth Strategy of CareDx.

Shareholder Voting Power at CareDx

Understanding how votes are cast is key to comprehending CareDx ownership. Each share grants one vote, and this structure influences how decisions are made.

• One-share-one-vote principle governs voting rights.
• No cumulative voting is permitted for director elections.
• Voting rights are tied to common stock ownership as of the record date.
• Restricted Stock Awards may also carry voting rights.

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Over the past few years, CareDx has implemented strategic initiatives impacting its ownership structure, including significant share repurchase programs. These actions are designed to enhance shareholder value and reflect the company's financial health and strategic outlook.

The company's financial projections and leadership changes underscore a commitment to growth and profitability. With a revenue guidance of $365 million to $375 million for 2025 and a long-term goal of $500 million in revenue and 20% adjusted EBITA by 2027, these strategic moves are intended to strengthen its market position and deliver value to its stakeholders. Understanding the Revenue Streams & Business Model of CareDx provides further context for these ownership trends.

Shareholder Value Enhancement

The company's recent share repurchase programs, totaling $100 million over two years, are a direct effort to boost shareholder value. This strategy can lead to an increase in earnings per share and potentially a higher stock price.

Strategic Financial Management

With a strong cash position of $231 million and no debt at the close of Q1 2025, CareDx demonstrates robust financial health. This allows for strategic investments in R&D and shareholder returns through buybacks.

Leadership and Operational Focus

The recent appointments of a new CEO and expanded executive team signal a renewed focus on operational efficiency and strategic direction. This leadership evolution is key to achieving the company's ambitious financial targets.

Future Growth Projections

CareDx has set clear financial goals, projecting revenue between $365 million and $375 million for 2025 and aiming for $500 million in revenue by 2027. These targets are critical for understanding future ownership dynamics.

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