Zacks: Co-Diagnostics Inc (CODX) Receives Consensus Rating of “Strong Buy” from Brokerages

Shares of Co-Diagnostics Inc (NASDAQ:CODX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price target of $2.00 for the company and are expecting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also assigned Co-Diagnostics an industry rank of 152 out of 256 based on the ratings given to its competitors.

CODX has been the topic of a number of research analyst reports. Maxim Group initiated coverage on Co-Diagnostics in a research note on Tuesday, April 9th. They issued a “buy” rating and a $2.00 price target on the stock. HC Wainwright initiated coverage on Co-Diagnostics in a research note on Monday, March 11th. They issued a “buy” rating and a $2.00 price target on the stock. Finally, Zacks Investment Research lowered Co-Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th.

Shares of NASDAQ:CODX opened at $0.77 on Tuesday. Co-Diagnostics has a 1 year low of $0.69 and a 1 year high of $5.32.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Co-Diagnostics had a negative return on equity of 430.95% and a negative net margin of 19,057.66%. On average, equities analysts anticipate that Co-Diagnostics will post -0.09 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in Co-Diagnostics by 18.7% during the third quarter. Vanguard Group Inc now owns 95,342 shares of the company’s stock worth $251,000 after buying an additional 15,027 shares during the last quarter. HighTower Advisors LLC boosted its stake in Co-Diagnostics by 22.3% during the first quarter. HighTower Advisors LLC now owns 115,002 shares of the company’s stock worth $122,000 after buying an additional 21,000 shares during the last quarter. Finally, Sabby Management LLC acquired a new position in Co-Diagnostics during the first quarter worth $820,000. 10.63% of the stock is currently owned by institutional investors.

About Co-Diagnostics

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. Co-Diagnostics, Inc was founded in 2013 and is headquartered in Salt Lake City, Utah.

Recommended Story: How Do Mutual Funds Work?

Get a free copy of the Zacks research report on Co-Diagnostics (CODX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Co-Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Co-Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.