Analysts Anticipate GenMark Diagnostics, Inc. (GNMK) to Announce -$0.19 EPS
Wall Street analysts expect GenMark Diagnostics, Inc. (NASDAQ:GNMK) to report earnings of ($0.19) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for GenMark Diagnostics’ earnings, with the lowest EPS estimate coming in at ($0.27) and the highest estimate coming in at ($0.14). GenMark Diagnostics posted earnings per share of ($0.27) in the same quarter last year, which would indicate a positive year over year growth rate of 29.6%. The company is expected to announce its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that GenMark Diagnostics will report full year earnings of ($1.13) per share for the current fiscal year, with EPS estimates ranging from ($1.21) to ($1.06). For the next financial year, analysts expect that the company will post earnings of ($0.76) per share, with EPS estimates ranging from ($0.95) to ($0.59). Zacks’ EPS calculations are an average based on a survey of research firms that follow GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $11.60 million during the quarter, compared to the consensus estimate of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned ($0.27) earnings per share.
A number of brokerages have recently commented on GNMK. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price target on shares of GenMark Diagnostics in a research note on Monday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of GenMark Diagnostics in a research report on Wednesday, October 4th. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Bank of America Corporation began coverage on GenMark Diagnostics in a research report on Monday, September 18th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Cowen and Company reiterated an “outperform” rating and issued a $17.00 price objective on shares of GenMark Diagnostics in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $12.20.
Shares of GenMark Diagnostics (NASDAQ GNMK) traded up $0.29 during mid-day trading on Tuesday, hitting $4.10. The stock had a trading volume of 2,360,417 shares, compared to its average volume of 701,096. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.97 and a quick ratio of 2.77. GenMark Diagnostics has a one year low of $3.63 and a one year high of $13.67.
In related news, SVP Eric Stier sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $9.60, for a total value of $26,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott Mendel sold 2,898 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $9.45, for a total value of $27,386.10. Following the completion of the transaction, the chief financial officer now owns 138,096 shares of the company’s stock, valued at $1,305,007.20. The disclosure for this sale can be found here. Insiders sold a total of 58,917 shares of company stock valued at $539,162 over the last quarter. 7.50% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in GNMK. Bank of New York Mellon Corp boosted its position in GenMark Diagnostics by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 204,928 shares of the medical equipment provider’s stock worth $2,627,000 after acquiring an additional 6,482 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in GenMark Diagnostics during the 1st quarter worth approximately $435,000. American International Group Inc. boosted its position in GenMark Diagnostics by 7.8% during the 1st quarter. American International Group Inc. now owns 24,885 shares of the medical equipment provider’s stock worth $319,000 after acquiring an additional 1,802 shares during the last quarter. Teachers Advisors LLC boosted its position in GenMark Diagnostics by 13.1% during the 1st quarter. Teachers Advisors LLC now owns 111,084 shares of the medical equipment provider’s stock worth $1,424,000 after acquiring an additional 12,864 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in GenMark Diagnostics by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 1,956,681 shares of the medical equipment provider’s stock worth $25,084,000 after acquiring an additional 58,691 shares during the last quarter.
About GenMark Diagnostics
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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