Reed L. Benson Sells 89,524 Shares of Co-Diagnostics, Inc. (NASDAQ:CODX) Stock

Co-Diagnostics, Inc. (NASDAQ:CODX) CFO Reed L. Benson sold 89,524 shares of the business’s stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $10.50, for a total transaction of $940,002.00. Following the completion of the transaction, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at approximately $1,050,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of CODX traded down $0.59 during midday trading on Monday, reaching $11.30. 17,860 shares of the company were exchanged, compared to its average volume of 6,620,196. Co-Diagnostics, Inc. has a 1-year low of $0.88 and a 1-year high of $30.99. The company has a market cap of $343.19 million, a price-to-earnings ratio of 14.68 and a beta of -2.91. The stock has a 50-day moving average price of $13.28 and a 200-day moving average price of $16.12.

Co-Diagnostics (NASDAQ:CODX) last issued its quarterly earnings data on Sunday, November 15th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.10). Co-Diagnostics had a net margin of 53.81% and a return on equity of 93.48%. Analysts anticipate that Co-Diagnostics, Inc. will post 1.53 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Co-Diagnostics by 67.6% in the second quarter. Vanguard Group Inc. now owns 1,302,263 shares of the company’s stock worth $25,198,000 after acquiring an additional 525,062 shares in the last quarter. Morgan Stanley acquired a new stake in Co-Diagnostics in the first quarter valued at $2,804,000. Nuveen Asset Management LLC bought a new position in Co-Diagnostics during the 2nd quarter valued at $4,305,000. Barclays PLC acquired a new position in Co-Diagnostics during the 2nd quarter worth $2,791,000. Finally, Wells Fargo & Company MN raised its stake in shares of Co-Diagnostics by 115.9% in the 3rd quarter. Wells Fargo & Company MN now owns 162,294 shares of the company’s stock valued at $2,204,000 after purchasing an additional 87,121 shares in the last quarter. 23.39% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on the stock. Maxim Group lowered their target price on shares of Co-Diagnostics from $30.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 17th. ValuEngine lowered Co-Diagnostics from a “sell” rating to a “strong sell” rating in a research report on Friday, November 20th. TheStreet raised Co-Diagnostics from a “d” rating to a “c+” rating in a research report on Thursday, August 27th. HC Wainwright cut their price objective on Co-Diagnostics from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, November 17th. Finally, Zacks Investment Research raised Co-Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.33.

About Co-Diagnostics

Co-Diagnostics, Inc, a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was founded in 2013 and is headquartered in Salt Lake City, Utah.

See Also: What does an outperform rating mean?

Receive News & Ratings for Co-Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Co-Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.