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CoDiagnostics, Inc. (CODX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, CoDiagnostics, Inc. (CODX - Free Report) closed at $19.46, marking a +0.57% move from the previous day. This move outpaced the S&P 500's daily gain of 0.5%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, added 0.95%.
Prior to today's trading, shares of the company had gained 10.19% over the past month. This has outpaced the Medical sector's loss of 1.24% and the S&P 500's gain of 1.89% in that time.
Investors will be hoping for strength from CODX as it approaches 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 $83.50 million. These totals would mark changes of +633.33% and +38737.21%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CODX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CODX is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, CODX is currently trading at a Forward P/E ratio of 10.08. This valuation marks a discount compared to its industry's average Forward P/E of 25.49.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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.
To follow CODX in the coming trading sessions, be sure to utilize Zacks.com.
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CoDiagnostics, Inc. (CODX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, CoDiagnostics, Inc. (CODX - Free Report) closed at $19.46, marking a +0.57% move from the previous day. This move outpaced the S&P 500's daily gain of 0.5%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, added 0.95%.
Prior to today's trading, shares of the company had gained 10.19% over the past month. This has outpaced the Medical sector's loss of 1.24% and the S&P 500's gain of 1.89% in that time.
Investors will be hoping for strength from CODX as it approaches 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 $83.50 million. These totals would mark changes of +633.33% and +38737.21%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CODX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CODX is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, CODX is currently trading at a Forward P/E ratio of 10.08. This valuation marks a discount compared to its industry's average Forward P/E of 25.49.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% 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.
To follow CODX in the coming trading sessions, be sure to utilize Zacks.com.