Again...
No "code reader" will ever (repeat, ever) be able to diagnose a bad O2 sensor. All a code reader can do is tell you that a reading coming from the O2 does not match the table built into the PCM.
In order to actually diagnose an O2, you will need to test the electrical propeties of the sensor with the proper equipment (a digital square wave multi-meter).
An engine "scanner" will aid in the diagnosis, as you can see real-time engine numbers such as fuel trim, spark, etc., plus the actual O2 readings, which will allow the savvy tech to figure out if the O2 is actually bad or not. Most are not... They last forever unless oiled down by by-passing rings, etc., or by some additive in the fuel.
Hope this helps.