Co-Diagnostics: Hold Thesis Remains Well Intact

Sep. 07, 2022 10:46 AM ETCo-Diagnostics, Inc. (CODX)ABT7 Comments
Zach Bristow profile picture
Zach Bristow
2.47K Followers

Summary

  • We reiterate the hold thesis on Co-Diagnostics following Q2 FY22 earnings.
  • Covid-19 turnover continues to diminish for CODX whilst surging for rival test providers.
  • Inventory levels for the company spiked year over year as the Omicron-led demand in testing faded.
  • We've valued CODX at $3.24 suggesting shares are adequately priced by the market consensus.

Papid molecular assay, pcr analysis for express testing of novel novel 2019-nCoV coronavirus infection, viral pneumonia outbreak from China Multichannel pipette tips filled with reaction mixture.

anyaivanova/iStock via Getty Images

From the Portfolio Manager's Desk

Having witnessed the rapid cooling of Omicron-led demand in Covid-19 diagnostics, the Sars-CoV-2 assay market is looking increasingly unattractive. Here revisit Co-Diagnostics, Inc. (NASDAQ:CODX) a name that we are extremely

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Data: HB Insights, CODX SEC Filings

This article was written by

Zach Bristow profile picture
2.47K Followers
Buy side equity portfolio strategist serving mandates throughout EU/US/APAC. Helping you position your portfolios for the future is my top priority. Shoot me a message to discuss trade ides or talk portfolio construction. Disclaimer:The opinions expressed in all articles do not constitute as investment advice. Please remember to conduct your own due diligence.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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