Financial Comparison: Co-Diagnostics (CODX) & The Competition

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

Risk and Volatility

Co-Diagnostics has a beta of 3.15, indicating that its share price is 215% more volatile than the S&P 500. Comparatively, Co-Diagnostics’ competitors have a beta of 1.15, indicating that their average share price is 15% 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	-12,359.35%	-203.09%	-30.93%

Analyst Ratings

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

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Co-Diagnostics	1	1	0	1	2.33
Co-Diagnostics Competitors	9846	15131	45507	1589	2.54

Co-Diagnostics presently has a consensus price target of $45.00, indicating a potential upside of 15,000.67%. As a group, “Biotechnology” companies have a potential upside of 98.44%. Given Co-Diagnostics’ higher possible upside, research analysts plainly believe Co-Diagnostics is more favorable than its competitors.

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, 13.0% of shares of all “Biotechnology” companies are owned by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a stock is poised for long-term growth.

Valuation & Earnings

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

	Gross Revenue	Net Income	Price/Earnings Ratio
Co-Diagnostics	$620,000.00	-$46.90 million	-0.03
Co-Diagnostics Competitors	$698.13 million	$10.43 million	-15.35

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.

About Co-Diagnostics

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.