GenMark Diagnostics Inc. (GNMK) Director Acquires $25,000.00 in Stock
GenMark Diagnostics Inc. (NASDAQ:GNMK) Director Michael Kagnoff purchased 2,000 shares of the stock in a transaction dated Monday, November 14th. The shares were purchased at an average price of $12.50 per share, with a total value of $25,000.00. Following the completion of the transaction, the director now owns 33,048 shares of the company’s stock, valued at $413,100. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) traded up 1.48% during trading on Thursday, hitting $12.36. The company’s stock had a trading volume of 5,462 shares. GenMark Diagnostics Inc. has a 52 week low of $4.20 and a 52 week high of $13.29. The company’s market cap is $573.55 billion. The firm’s 50 day moving average price is $11.89 and its 200-day moving average price is $9.49.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. GenMark Diagnostics had a negative net margin of 98.17% and a negative return on equity of 114.35%. The company earned $10.80 million during the quarter, compared to analysts’ expectations of $10.36 million. During the same period in the previous year, the company earned ($0.27) EPS. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, analysts predict that GenMark Diagnostics Inc. will post ($1.13) earnings per share for the current year.
Several research analysts have recently commented on the company. Zacks Investment Research lowered GenMark Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Canaccord Genuity restated a “buy” rating and set a $13.00 price target on shares of GenMark Diagnostics in a research report on Friday, July 29th. JPMorgan Chase & Co. raised their price target on GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Finally, Cowen and Company upgraded GenMark Diagnostics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research note on Friday, September 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. GenMark Diagnostics presently has an average rating of “Buy” and a consensus target price of $11.89.
A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of GenMark Diagnostics during the third quarter worth approximately $137,000. State Board of Administration of Florida Retirement System raised its stake in shares of GenMark Diagnostics by 4.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,007 shares of the company’s stock worth $148,000 after buying an additional 799 shares during the period. BlackRock Group LTD raised its stake in shares of GenMark Diagnostics by 85.6% in the third quarter. BlackRock Group LTD now owns 18,730 shares of the company’s stock worth $221,000 after buying an additional 8,641 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of GenMark Diagnostics by 44.7% in the third quarter. UBS Asset Management Americas Inc. now owns 20,400 shares of the company’s stock worth $241,000 after buying an additional 6,300 shares during the period. Finally, BlackRock Advisors LLC raised its stake in shares of GenMark Diagnostics by 3.1% in the second quarter. BlackRock Advisors LLC now owns 20,714 shares of the company’s stock worth $180,000 after buying an additional 615 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.
GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States.
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