Co-Diagnostics (NASDAQ:CODX – Get Rating) released its quarterly results on Thursday. The company reported EPS of $0.34 for the quarter, beating analyst consensus estimates of $0.18 by $0.16, MarketWatch Earnings reports. Co-Diagnostics achieved a net margin of 37.45% and a return on equity of 36.83%. In the same quarter a year earlier, the company posted EPS of $0.26.

The NASDAQ CODX opened at $4.55 on Friday. The company’s 50-day simple moving average is $5.39 and its 200-day simple moving average is $7.14. Co-Diagnostics has a 12 month minimum of $3.66 and a 12 month maximum of $11.82. The company has a market capitalization of $154.56 million, a P/E ratio of 3.50 and a beta of -1.90.

CODX has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $15.00 price target on Co-Diagnostics shares in a Friday, March 25 research report. Zacks Investment Research downgraded shares of Co-Diagnostics from a “buy” rating to a “hold” rating in a Wednesday, March 30 report. Two equity research analysts have rated the stock with a hold rating and three have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus buy rating and a consensus target price of $12.00.

Several hedge funds have recently increased or reduced their stake in CODX. Morgan Stanley increased its holdings of Co-Diagnostics shares by 302.4% during the second quarter. Morgan Stanley now owns 128,425 shares of the company valued at $1,060,000 after acquiring an additional 96,511 shares during the period. Royal Bank of Canada increased its holdings of Co-Diagnostics shares by 59.4% during the third quarter. Royal Bank of Canada now owns 111,891 shares of the company valued at $1,089,000 after acquiring an additional 41,707 shares during the period. Bank of New York Mellon Corp increased its holdings of Co-Diagnostics shares by 15.5% during the third quarter. Bank of New York Mellon Corp now owns 170,568 shares of the company valued at $1,660,000 after acquiring 22,896 additional shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Co-Diagnostics during the fourth quarter valued at approximately $180,000. Finally, Renaissance Technologies LLC increased its shareholding in Co-Diagnostics by 59.6% during the fourth quarter. Renaissance Technologies LLC now owns 294,500 shares of the company valued at $2,630,000 after acquiring an additional 110,000 shares during the period. Institutional investors and hedge funds hold 21.00% of the company’s shares.

Company Profile Co-Diagnostics (Get an evaluation)

Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures and sells reagents used for diagnostic tests that operate by the detection and/or analysis of nucleic acid molecules in the United States and worldwide . It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and zika virus; three multiplexed tests to test mosquitoes for the identification of mosquito-borne diseases; and molecular tools for infectious disease detection, liquid biopsy for cancer screening, and agricultural applications.

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