CoDiagnostics, Inc. (CODX) closed at $18.19 in the latest trading session, marking a +1% move from the prior day. The stock lagged the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 1.44%, and the Nasdaq, a tech-heavy index, added 0.66%.
Prior to today's trading, shares of the company had gained 17.56% over the past month. This has outpaced the Medical sector's loss of 1.32% and the S&P 500's loss of 1.56% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $27 million, up 44900% from the year-ago period.
CODX's full-year Zacks Consensus Estimates are calling for earnings of $1.92 per share and revenue of $83.50 million. These results would represent year-over-year changes of +633.33% and +38737.21%, respectively.
Any recent changes to analyst estimates for CODX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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 currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, CODX is currently trading at a Forward P/E ratio of 9.38. For comparison, its industry has an average Forward P/E of 27.8, 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 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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