Co-Diagnostics (NASDAQ:CODX - Get Rating) announced its quarterly earnings data on Thursday. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.18 by $0.16, MarketWatch Earnings reports. Co-Diagnostics had a net margin of 37.45% and a return on equity of 36.83%. During the same quarter in the prior year, the business posted $0.26 earnings per share.
Shares of CODX traded up $0.59 during trading hours on Friday, reaching $4.55. The stock had a trading volume of 16,878 shares, compared to its average volume of 224,610. The firm has a 50-day simple moving average of $5.44 and a 200 day simple moving average of $7.19. Co-Diagnostics has a 12 month low of $3.66 and a 12 month high of $11.82. The company has a market capitalization of $154.56 million, a price-to-earnings ratio of 3.70 and a beta of -1.90.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Co-Diagnostics by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,871,914 shares of the company's stock valued at $11,568,000 after acquiring an additional 76,857 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Co-Diagnostics by 4.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 548,850 shares of the company's stock valued at $4,901,000 after acquiring an additional 22,447 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Co-Diagnostics by 59.6% during the 4th quarter. Renaissance Technologies LLC now owns 294,500 shares of the company's stock valued at $2,630,000 after acquiring an additional 110,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Co-Diagnostics by 22.6% during the 1st quarter. Bank of New York Mellon Corp now owns 228,232 shares of the company's stock valued at $1,411,000 after acquiring an additional 42,024 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Co-Diagnostics by 6.9% during the 3rd quarter. Morgan Stanley now owns 137,302 shares of the company's stock valued at $1,336,000 after acquiring an additional 8,877 shares in the last quarter. Institutional investors and hedge funds own 21.00% of the company's stock.
CODX has been the subject of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Co-Diagnostics in a research report on Friday, March 25th. Zacks Investment Research cut Co-Diagnostics from a "buy" rating to a "hold" rating in a report on Wednesday, March 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.00.
Co-Diagnostics Company Profile (Get Rating)
Co-Diagnostics, Inc, a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, tuberculosis, hepatitis B and C, human papilloma virus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications.
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