GenMark Diagnostics, Inc. (GNMK) Given Average Recommendation of “Hold” by Analysts
GenMark Diagnostics, Inc. (NASDAQ:GNMK) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.20.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen and Company reaffirmed a “buy” rating and issued a $10.00 price objective on shares of GenMark Diagnostics in a report on Friday, November 3rd. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. Needham & Company LLC dropped their price objective on shares of GenMark Diagnostics from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of GenMark Diagnostics in a report on Monday, October 30th.
GenMark Diagnostics (NASDAQ GNMK) opened at $4.93 on Thursday. GenMark Diagnostics has a 52 week low of $3.63 and a 52 week high of $13.67. 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 (NASDAQ:GNMK) last posted its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The business had revenue of $11.60 million during the quarter, compared to the consensus estimate of $14.56 million. During the same quarter in the previous year, the business posted ($0.27) earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. analysts expect that GenMark Diagnostics will post -1.13 earnings per share for the current year.
In related news, Director Michael Kagnoff bought 20,000 shares of the stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $4.13 per share, with a total value of $82,600.00. Following the purchase, the director now owns 64,413 shares in the company, valued at $266,025.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jennifer Anne Williams sold 38,681 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $9.08, for a total transaction of $351,223.48. Following the transaction, the senior vice president now directly owns 155,889 shares in the company, valued at approximately $1,415,472.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,917 shares of company stock worth $539,162. Corporate insiders own 7.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in GenMark Diagnostics by 13.6% during the 2nd quarter. FMR LLC now owns 8,020,502 shares of the medical equipment provider’s stock valued at $94,883,000 after buying an additional 962,822 shares during the period. JPMorgan Chase & Co. boosted its position in shares of GenMark Diagnostics by 15.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after purchasing an additional 559,629 shares in the last quarter. Jennison Associates LLC boosted its position in shares of GenMark Diagnostics by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 3,567,001 shares of the medical equipment provider’s stock valued at $34,350,000 after purchasing an additional 25,254 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of GenMark Diagnostics by 12.7% during the 2nd quarter. HighTower Advisors LLC now owns 2,360,984 shares of the medical equipment provider’s stock valued at $27,930,000 after purchasing an additional 266,969 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of GenMark Diagnostics by 25.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,252,831 shares of the medical equipment provider’s stock valued at $26,651,000 after purchasing an additional 453,329 shares in 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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