Co Diagnostics Stock Financials

CODX
 Stock
  

USD 2.98  0.01  0.33%   

We suggest to use analysis of Co-Diagnostics fundamentals to see if markets are today mispricing the company. We were able to break down thirty-four available financial indicators for Co Diagnostics, which can be compared to its peers in the sector. To ensure the equity is not overpriced, please confirm all Co-Diagnostics financials, including its cash and equivalents, beta, and the relationship between the price to sales and book value per share . Please also double-check Co Diagnostics number of shares shorted to validate the company can sustain itself for few more years. Use Co Diagnostics to protect your portfolios against small market fluctuations. Benchmarks are essential to demonstrate the utility of optimization algorithms. The stock experiences a normal downward trend and little activity. Check odds of Co Diagnostics to be traded at $2.95 in 90 days.
  
With this module, you can analyze Co Diagnostics financials for your investing period. You should be able to track the changes in Co Diagnostics individual financial statements over time to develop the understanding of its risk, liquidity, profitability, or other critical and vital indicators.

Co Diagnostics Most Recent Estimates

Quarterly Earnings Growth YOY
0.31
EPS Estimate Next Quarter
(0.02) 
Diluted Eps
0.45
EPS Estimate Current Year
0.09
EPS Estimate Next Year
(0.64) 
EPS Estimate Current Quarter
(0.04) 
Understanding current and past Co Diagnostics Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Co Diagnostics' financial statements are interrelated, with each one affecting the others. For example, an increase in Co Diagnostics' assets may result in an increase in income on the income statement.
Chance Of Financial Distress
Less than 48
Co-Diagnostics has less than 48 (%) percent chance of experiencing financial distress in the next two years of operations. The calculation of odds of distress for Co Diagnostics stock is tightly coupled with the Probability of Bankruptcy. It complements the equity performance score by supplying investors with insight into company financials without requiring them to know too much about all of the complex accounting and financial indicators surrounding the entity. More Info
The data published in Co Diagnostics' official financial statements usually reflect Co Diagnostics' business processes, product offerings, services, and other fundamental events. But there are other numbers, ratios, or fundamental indicators derived from these statements that are easier to understand and visualize within the underlying realities that drive quantitative information of Co-Diagnostics. For example, before you start analyzing numbers published by Co Diagnostics accountants, it's critical to develop an understanding of what Co Diagnostics' liquidity, profitability, and earnings quality are in the context of the Healthcare space in which it operates.
Please note, the presentation of Co Diagnostics' financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Co Diagnostics' management is honest, while the outside auditors are strict and uncompromising. Whatever the case, the imprecision that can be found in Co Diagnostics' accounting process means that the reasonable investor should take a skeptical approach toward the financial statement analysis of Co-Diagnostics. Please utilize our Beneish M Score to check the likelihood of Co Diagnostics' management to manipulate its earnings.

Co Diagnostics Company Summary

Co Diagnostics competes with Abbott Laboratories, Medtronic, Stryker Corp, Boston Scientific, and Edwards Lifesciences. Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection andor analysis of nucleic acid molecules in the United States and internationally. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah. Co Diagnostics operates under Medical Devices classification in the United States and is traded on NASDAQ Exchange. It employs 101 people.
InstrumentUSA Stock View All
ExchangeNASDAQ Exchange
Business Address2401 South Foothill
SectorHealthcare
IndustryMedical Devices
BenchmarkDOW
Websitewww.codiagnostics.com
Phone801 438 1036
CurrencyUSD - US Dollar
You should never invest in Co Diagnostics without having analyzed its financial statements. Do not rely on someone else's analysis or guesses about the future performance of Co Diagnostics Stock, because this is throwing your money away. Analyzing the key information contained in Co Diagnostics' financial statements can give you an edge over other investors and help to ensure that your investments perform well for you.

Co Diagnostics Key Financial Ratios

Generally speaking, Co Diagnostics' financial ratios allow both analysts and investors to convert raw data from Co Diagnostics' financial statements into concise, actionable information that can be used to evaluate the performance of Co Diagnostics over time and compare it to other companies across industries. There are many critical financial ratios that investors are exposed to on a daily basis, but they are usually grouped into few meaningful categories from each financial statement that Co-Diagnostics reports annually and quarterly.

Co Diagnostics Financial Ratios Relationships

Comparative valuation techniques use various fundamental indicators to help in determining Co Diagnostics's current stock value. Our valuation model uses many indicators to compare Co Diagnostics value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Co Diagnostics competition to find correlations between indicators driving Co Diagnostics's intrinsic value. More Info.
Co-Diagnostics is rated below average in current asset category among related companies. It is rated fifth in cash per share category among related companies . The ratio of Current Asset to Cash per Share for Co-Diagnostics is about  306,708 . Comparative valuation analysis is a catch-all model that can be used if you cannot value Co Diagnostics by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Co Diagnostics' Stock . Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Co Diagnostics' earnings, one of the primary drivers of an investment's value.

Co-Diagnostics Systematic Risk

Co Diagnostics' systematic risk plays a vital role in portfolio allocation when considering its stock to be added to a well-diversified portfolio. Co Diagnostics volatility which cannot be eliminated through diversification, requires returns over the risk-free rate. Over the long run, a well-diversified portfolio provides returns that match its exposure to systematic risk. In this case, investors face a trade-off between expected returns and systematic risk and, therefore, can only reduce a portfolio's exposure to systematic risk by sacrificing expected returns on the portfolio.
The output start index for this execution was sixty with a total number of output elements of one. The Beta measures systematic risk based on how returns on Co-Diagnostics correlated with the market. If Beta is less than 0 Co Diagnostics generally moves in the opposite direction as compared to the market. If Co Diagnostics Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Co-Diagnostics is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Co Diagnostics is generally in the same direction as the market. If Beta > 1 Co Diagnostics moves generally in the same direction as, but more than the movement of the benchmark.
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About Co Diagnostics Financials

What exactly are Co Diagnostics Financials? Typically, a company's financial statements are the reports that show the financial position of the company. Three primary documents fall into the category of financial statements. These documents include Co Diagnostics' income statement, its balance sheet, and the statement of cash flows. Potential Co Diagnostics investors and stakeholders use financial statements to determine how well the company is positioned to perform in the future. Although Co Diagnostics investors may use each financial statement separately, they are all related. The changes in Co Diagnostics's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Co Diagnostics's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet, but not equivalent to net income shown on the income statement. Please read more on our technical analysis and fundamental analysis pages.
There are several different ways that investors can use financial statements to try and predict whether a stock price will go up or down. Unfortunately, there is no surefire formula, but there are some general guidelines you should consider when looking at the numbers. First, realize what kind of company it is so you know if its revenues are more likely to grow or shrink over time. For example, a software company's revenue is expected to increase yearly due to new products and services that its customers will want to buy. At the same time, a car manufacturer might not be able to sell as many cars when the economy slows down, so it would have less net income during those times. Second, pay attention to its debt-to-equity ratio because this number will tell you how much risk it has. If a company such as Co Diagnostics is not taking on any additional risks, its debt-to-equity should be less than one. As a general rule of thumb, if the market value or book value (which can be found in the footnotes) of assets exceeds the company's liabilities, then it is probably in good shape. Finally, use other financial statements to determine if a stock price will go up or down because investors are always looking for growth opportunities when they buy new stocks. For example, if you see that the net revenue of Co Diagnostics has grown by more than 25% over the last five years, then there is a good chance that it will continue growing at least by 20% or more each year. On the other hand, if you see that net revenue has only increased by about 15%, which is barely above inflation levels, then chances are it will not grow much faster than this over time, and investors may shy away from buying it.

Co Diagnostics November 30, 2022 Opportunity Range

Along with financial statement analysis, the daily predictive indicators of Co Diagnostics help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Co-Diagnostics. We use our internally-developed statistical techniques to arrive at the intrinsic value of Co-Diagnostics based on widely used predictive technical indicators. In general, we focus on analyzing Co Diagnostics Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Co Diagnostics's daily price indicators and compare them against related drivers.
Information Ratio(0.08)
Maximum Drawdown15.64
Value At Risk(5.62)
Potential Upside5.23
Continue to Trending Equities. Note that the Co-Diagnostics information on this page should be used as a complementary analysis to other Co Diagnostics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.

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When running Co-Diagnostics price analysis, check to measure Co Diagnostics' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Co Diagnostics is operating at the current time. Most of Co Diagnostics' value examination focuses on studying past and present price action to predict the probability of Co Diagnostics' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Co Diagnostics' price. Additionally, you may evaluate how the addition of Co Diagnostics to your portfolios can decrease your overall portfolio volatility.
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Is Co Diagnostics' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Co Diagnostics. If investors know Co Diagnostics will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Co Diagnostics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.31
Market Capitalization
92.4 M
Quarterly Revenue Growth YOY
(0.83) 
Return On Assets
0.0467
Return On Equity
0.13
The market value of Co-Diagnostics is measured differently than its book value, which is the value of Co Diagnostics that is recorded on the company's balance sheet. Investors also form their own opinion of Co Diagnostics' value that differs from its market value or its book value, called intrinsic value, which is Co Diagnostics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Co Diagnostics' market value can be influenced by many factors that don't directly affect Co Diagnostics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Co Diagnostics' value and its price as these two are different measures arrived at by different means. Investors typically determine Co Diagnostics value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Co Diagnostics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.