Co-Diagnostics (NASDAQ:CODX) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $1.070-$1.160 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.980. The company issued revenue guidance of $96 million-$100 million, compared to the consensus revenue estimate of $95.21 million.
Several research firms recently weighed in on CODX. Litchfield Hills Research reissued a buy rating on shares of Co-Diagnostics in a research report on Monday, November 15th. Maxim Group reissued a hold rating on shares of Co-Diagnostics in a research report on Friday, November 12th. Zacks Investment Research raised Co-Diagnostics from a hold rating to a buy rating and set a $10.00 price objective for the company in a research report on Monday, November 15th. Finally, HC Wainwright cut their price objective on Co-Diagnostics from $16.00 to $15.00 and set a buy rating for the company in a research report on Friday, November 12th.
CODX traded up $0.04 on Thursday, hitting $8.48. 402,763 shares of the stock traded hands, compared to its average volume of 1,086,380. Co-Diagnostics has a 52 week low of $7.01 and a 52 week high of $20.69. The firm has a market capitalization of $244.99 million, a PE ratio of 6.06 and a beta of -3.29. The business has a fifty day moving average price of $8.88 and a two-hundred day moving average price of $9.06.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Co-Diagnostics by 15.5% during the third quarter. Bank of New York Mellon Corp now owns 170,568 shares of the company’s stock valued at $1,660,000 after acquiring an additional 22,896 shares during the period. Morgan Stanley grew its stake in shares of Co-Diagnostics by 6.9% in the 3rd quarter. Morgan Stanley now owns 137,302 shares of the company’s stock valued at $1,336,000 after purchasing an additional 8,877 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Co-Diagnostics by 59.4% in the 3rd quarter. Royal Bank of Canada now owns 111,891 shares of the company’s stock valued at $1,089,000 after purchasing an additional 41,707 shares during the period. Hedge funds and other institutional investors own 25.61% of the company’s stock.
Co-Diagnostics Company Profile
Co-Diagnostics, Inc engages in the development and innovation of molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications. Its diagnostics systems enable very rapid, low-cost, molecular testing for organisms and genetic diseases by automating historically complex procedures in both the development and administration of tests.
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