CoDiagnostics, Inc. (CODX) closed at $25.73 in the latest trading session, marking a -1.61% move from the prior day. This move lagged the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.87%.
Prior to today's trading, shares of the company had gained 45.2% over the past month. This has outpaced the Medical sector's gain of 2.41% and the S&P 500's gain of 5.48% in that time.
Investors will be hoping for strength from CODX as it approaches its next earnings release. The company is expected to report EPS of $0.61, up 862.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $27 million, up 44900% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.92 per share and revenue of $83.55 million, which would represent changes of +633.33% and +38760.47%, respectively, from the prior year.
Any recent changes to analyst estimates for CODX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CODX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, CODX is holding a Forward P/E ratio of 13.62. For comparison, its industry has an average Forward P/E of 30.37, 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 126, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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CoDiagnostics, Inc. (CODX) : Free Stock Analysis Report
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