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CoDiagnostics, Inc. (CODX) Gains But Lags Market: What You Should Know
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CoDiagnostics, Inc. (CODX - Free Report) closed the most recent trading day at $14.42, moving +0.07% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.88%. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the company had gained 24.01% over the past month. This has outpaced the Medical sector's gain of 3.5% and the S&P 500's gain of 3.54% in that time.
Investors will be hoping for strength from CODX as it approaches its next earnings release. In that report, analysts expect CODX to post earnings of $0.54 per share. This would mark year-over-year growth of 640%. Meanwhile, our latest consensus estimate is calling for revenue of $28 million, up 69900% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.62 per share and revenue of $80.59 million, which would represent changes of +550% and +37383.72%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CODX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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.
Valuation is also important, so investors should note that CODX has a Forward P/E ratio of 8.9 right now. For comparison, its industry has an average Forward P/E of 30.76, 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 163, putting it in the bottom 36% 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.
To follow CODX in the coming trading sessions, be sure to utilize Zacks.com.
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CoDiagnostics, Inc. (CODX) Gains But Lags Market: What You Should Know
CoDiagnostics, Inc. (CODX - Free Report) closed the most recent trading day at $14.42, moving +0.07% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.88%. At the same time, the Dow added 0.57%, and the tech-heavy Nasdaq gained 1.39%.
Prior to today's trading, shares of the company had gained 24.01% over the past month. This has outpaced the Medical sector's gain of 3.5% and the S&P 500's gain of 3.54% in that time.
Investors will be hoping for strength from CODX as it approaches its next earnings release. In that report, analysts expect CODX to post earnings of $0.54 per share. This would mark year-over-year growth of 640%. Meanwhile, our latest consensus estimate is calling for revenue of $28 million, up 69900% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.62 per share and revenue of $80.59 million, which would represent changes of +550% and +37383.72%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CODX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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.
Valuation is also important, so investors should note that CODX has a Forward P/E ratio of 8.9 right now. For comparison, its industry has an average Forward P/E of 30.76, 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 163, putting it in the bottom 36% 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.
To follow CODX in the coming trading sessions, be sure to utilize Zacks.com.