Comparing Co-Diagnostics (CODX) and The Competition

Co-Diagnostics (NASDAQ:CODX) is one of 844 public companies in the “Biotechnology” industry, but how does it contrast to its competitors? We will compare Co-Diagnostics to similar businesses based on the strength of its dividends, institutional ownership, risk, valuation, earnings, profitability and analyst recommendations.

Volatility and Risk

Co-Diagnostics has a beta of 2.9, suggesting that its share price is 190% more volatile than the S&P 500. Comparatively, Co-Diagnostics’ competitors have a beta of 1.12, suggesting that their average share price is 12% more volatile than the S&P 500.

Profitability

This table compares Co-Diagnostics and its competitors’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Co-Diagnostics	-6,531.77%	-210.99%	-174.97%
Co-Diagnostics Competitors	-9,054.47%	-198.89%	-30.64%

Institutional and Insider Ownership

15.0% of Co-Diagnostics shares are owned by institutional investors. Comparatively, 47.9% of shares of all “Biotechnology” companies are owned by institutional investors. 1.7% of Co-Diagnostics shares are owned by insiders. Comparatively, 12.9% of shares of all “Biotechnology” companies are owned by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.

Analyst Recommendations

This is a breakdown of recent recommendations and price targets for Co-Diagnostics and its competitors, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Co-Diagnostics	1	1	0	1	2.33
Co-Diagnostics Competitors	9782	15052	45296	1571	2.54

Co-Diagnostics currently has a consensus price target of $45.00, indicating a potential upside of 11,742.11%. As a group, “Biotechnology” companies have a potential upside of 97.49%. Given Co-Diagnostics’ higher probable upside, equities analysts clearly believe Co-Diagnostics is more favorable than its competitors.

Valuation and Earnings

This table compares Co-Diagnostics and its competitors revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
Co-Diagnostics	$620,000.00	-$46.90 million	-0.04
Co-Diagnostics Competitors	$743.53 million	$13.62 million	-10.02

Co-Diagnostics’ competitors have higher revenue and earnings than Co-Diagnostics. Co-Diagnostics is trading at a higher price-to-earnings ratio than its competitors, indicating that it is currently more expensive than other companies in its industry.

Summary

Co-Diagnostics competitors beat Co-Diagnostics on 8 of the 13 factors compared.

Co-Diagnostics Company Profile

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. The company offers Co-Dx PCR platform, a polymerase chain reaction (PCR) testing to patients in point-of-care and at-home setting. It also provides PCR diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, human papillomavirus, malaria, chikungunya, dengue, and the zika virus. In addition, the company offers three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications; tests that identify genetic traits in plant and animal genomes; and portable diagnostic device designed to bring PCR to patients in point-of-care and at-home settings. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah.