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Is CoDiagnostics (CODX) Outperforming Other Medical Stocks This Year?


Investors focused on the Medical space have likely heard of CoDiagnostics (CODX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CODX and the rest of the Medical group’s stocks.

CoDiagnostics is a member of the Medical sector. This group includes 889 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CODX is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for CODX’s full-year earnings has moved 1,700% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, CODX has gained about 1,975.51% so far this year. Meanwhile, the Medical sector has returned an average of -1.32% on a year-to-date basis. As we can see, CoDiagnostics is performing better than its sector in the calendar year.

Breaking things down more, CODX is a member of the Medical Services industry, which includes 32 individual companies and currently sits at #61 in the Zacks Industry Rank. On average, this group has lost an average of 6.41% so far this year, meaning that CODX is performing better in terms of year-to-date returns.

Investors with an interest in Medical stocks should continue to track CODX. The stock will be looking to continue its solid performance.

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