GenMark Diagnostics, Inc (GNMK) Receives Average Recommendation of “Hold” from Brokerages

Shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) have been given an average recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.80.

A number of equities analysts have recently issued reports on GNMK shares. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price objective (down from $17.00) on shares of GenMark Diagnostics in a research note on Monday, August 7th. BidaskClub downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. BTIG Research reiterated a “buy” rating and set a $13.00 price objective on shares of GenMark Diagnostics in a research note on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective (down from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. Finally, Bank of America started coverage on shares of GenMark Diagnostics in a research note on Monday, September 18th. They set a “buy” rating and a $13.00 price objective on the stock.

GenMark Diagnostics (NASDAQ:GNMK) opened at $4.70 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97. GenMark Diagnostics has a one year low of $3.63 and a one year high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data 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 net margin of 116.76% and a negative return on equity of 100.33%. The business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. GenMark Diagnostics’s revenue for the quarter was up 7.4% on a year-over-year basis. equities analysts forecast that GenMark Diagnostics will post -1.17 earnings per share for the current year.

In other news, Director Michael Kagnoff bought 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $82,600.00. Following the completion of the purchase, the director now directly owns 64,413 shares in the company, valued at $266,025.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jennifer Anne Williams sold 38,681 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $9.08, for a total transaction of $351,223.48. Following the completion of the sale, the senior vice president now owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,650 shares of company stock valued at $471,189. 7.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in GenMark Diagnostics by 15.8% in the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after acquiring an additional 559,629 shares in the last quarter. Federated Investors Inc. PA boosted its stake in GenMark Diagnostics by 62,991.5% in the second quarter. Federated Investors Inc. PA now owns 200,000 shares of the medical equipment provider’s stock valued at $2,366,000 after acquiring an additional 199,683 shares in the last quarter. Vanguard Group Inc. boosted its stake in GenMark Diagnostics by 10.9% in the second quarter. Vanguard Group Inc. now owns 2,169,476 shares of the medical equipment provider’s stock valued at $25,664,000 after acquiring an additional 212,795 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in GenMark Diagnostics by 1,787.6% in the second quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock valued at $6,528,000 after acquiring an additional 515,200 shares in the last quarter. Finally, Northpointe Capital LLC boosted its stake in GenMark Diagnostics by 24.4% in the third quarter. Northpointe Capital LLC now owns 1,552,740 shares of the medical equipment provider’s stock valued at $14,953,000 after acquiring an additional 304,232 shares in the last quarter.

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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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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