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Is Co-Diagnostics (CODX) Outperforming Other Medical Stocks This Year?
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Co-Diagnostics (CODX - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Co-Diagnostics is a member of the Medical sector. This group includes 896 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CODX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CODX's full-year earnings has moved 800% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CODX has returned 816% so far this year. At the same time, Medical stocks have lost an average of 14.56%. This means that Co-Diagnostics is outperforming the sector as a whole this year.
To break things down more, CODX belongs to the Medical Services industry, a group that includes 32 individual companies and currently sits at #101 in the Zacks Industry Rank. On average, this group has lost an average of 18.42% so far this year, meaning that CODX is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to CODX as it looks to continue its solid performance.
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Is Co-Diagnostics (CODX) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Co-Diagnostics (CODX - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Co-Diagnostics is a member of the Medical sector. This group includes 896 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CODX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CODX's full-year earnings has moved 800% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CODX has returned 816% so far this year. At the same time, Medical stocks have lost an average of 14.56%. This means that Co-Diagnostics is outperforming the sector as a whole this year.
To break things down more, CODX belongs to the Medical Services industry, a group that includes 32 individual companies and currently sits at #101 in the Zacks Industry Rank. On average, this group has lost an average of 18.42% so far this year, meaning that CODX is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to CODX as it looks to continue its solid performance.