CoDiagnostics, Inc. (CODX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, CoDiagnostics, Inc. (CODX) closed at $22.12, marking a +1.37% move from the previous day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 1.67%.
Heading into today, shares of the company had gained 19.69% over the past month, outpacing the Medical sector's gain of 3.64% and the S&P 500's gain of 5.51% in that time.
CODX will be looking to display strength as it nears its next earnings release. On that day, CODX is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 862.5%. Meanwhile, our latest consensus estimate is calling for revenue of $27 million, up 44900% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.92 per share and revenue of $83.55 million. These totals would mark changes of +633.33% and +38760.47%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CODX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CODX is currently a Zacks Rank #3 (Hold).
Looking at its valuation, CODX is holding a Forward P/E ratio of 11.36. For comparison, its industry has an average Forward P/E of 27.83, which means CODX is trading at a discount to the group.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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