Co-Diagnostics (CODX) Scheduled to Post Earnings on Thursday

Co-Diagnostics (NASDAQ:CODX – Get Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, May 12th. Analysts expect the company to announce earnings of $0.18 per share for the quarter. Co-Diagnostics has set its Q1 2022 guidance at $0.170-$0.200 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Co-Diagnostics (NASDAQ:CODX – Get Rating) last announced its quarterly earnings data on Thursday, March 24th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.10. Co-Diagnostics had a return on equity of 36.83% and a net margin of 37.45%. The firm had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $21.50 million. During the same quarter last year, the firm posted $0.43 earnings per share. On average, analysts expect Co-Diagnostics to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of Co-Diagnostics stock opened at $4.65 on Thursday. Co-Diagnostics has a 52 week low of $4.29 and a 52 week high of $11.82. The stock has a 50 day moving average price of $5.61 and a two-hundred day moving average price of $7.35. The stock has a market capitalization of $157.94 million, a PE ratio of 3.81 and a beta of -1.90.

CODX has been the subject of a number of research reports. Zacks Investment Research cut Co-Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Co-Diagnostics in a report on Friday, March 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Co-Diagnostics currently has a consensus rating of “Buy” and a consensus target price of $12.00.

Several hedge funds have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. bought a new stake in Co-Diagnostics during the fourth quarter worth $177,000. Dimensional Fund Advisors LP bought a new stake in Co-Diagnostics during the fourth quarter worth $180,000. Wells Fargo & Company MN lifted its holdings in Co-Diagnostics by 107.4% during the fourth quarter. Wells Fargo & Company MN now owns 26,082 shares of the company’s stock worth $232,000 after acquiring an additional 13,506 shares during the period. State of Tennessee Treasury Department lifted its holdings in Co-Diagnostics by 106.1% during the fourth quarter. State of Tennessee Treasury Department now owns 40,000 shares of the company’s stock worth $357,000 after acquiring an additional 20,588 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Co-Diagnostics by 68.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 85,488 shares of the company’s stock worth $763,000 after acquiring an additional 34,669 shares during the period. Institutional investors own 21.00% of the company’s stock.

About Co-Diagnostics (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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