Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Co-Diagnostics (CODX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Co-Diagnostics is a member of the Medical sector. This group includes 899 individual stocks and currently holds a Zacks Sector Rank of #2. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CODX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CODX's full-year earnings has moved 77.78% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CODX has moved about 1,889.50% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -3.95% on a year-to-date basis. This means that Co-Diagnostics is outperforming the sector as a whole this year.
To break things down more, CODX belongs to the Medical Services industry, a group that includes 32 individual companies and currently sits at #108 in the Zacks Industry Rank. Stocks in this group have lost about 0.49% so far this year, so CODX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to CODX as it looks to continue its solid performance.
Co-Diagnostics, Inc. (CODX): Free Stock Analysis Report
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