Shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.60.
Several research firms have recently commented on GNMK. Canaccord Genuity lowered their price target on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BTIG Research set a $11.00 price target on shares of GenMark Diagnostics and gave the company a “buy” rating in a research report on Monday, November 20th. BidaskClub upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of GenMark Diagnostics in a research report on Friday, January 19th.
GenMark Diagnostics (NASDAQ:GNMK) traded down $0.32 during mid-day trading on Wednesday, hitting $5.46. 303,543 shares of the stock traded hands, compared to its average volume of 471,046. The firm has a market capitalization of $318.86, a price-to-earnings ratio of -4.38 and a beta of 0.99. GenMark Diagnostics has a twelve month low of $3.63 and a twelve month high of $13.67. The company has a quick ratio of 3.04, a current ratio of 3.44 and a debt-to-equity ratio of 0.29.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Tuesday, February 27th. The medical equipment provider reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $16.02 million for the quarter, compared to analyst estimates of $15.82 million. GenMark Diagnostics had a negative net margin of 117.77% and a negative return on equity of 91.14%. sell-side analysts expect that GenMark Diagnostics will post -0.78 EPS for the current year.
In related news, insider Hany Massarany sold 6,584 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $4.37, for a total transaction of $28,772.08. Following the sale, the insider now owns 357,190 shares in the company, valued at $1,560,920.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Kagnoff bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were purchased at an average price of $4.22 per share, for a total transaction of $42,200.00. Following the transaction, the director now owns 74,413 shares of the company’s stock, valued at approximately $314,022.86. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 50,164 shares of company stock worth $217,957. 7.50% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Wrapmanager Inc. raised its stake in GenMark Diagnostics by 121.3% during the fourth quarter. Wrapmanager Inc. now owns 39,547 shares of the medical equipment provider’s stock worth $165,000 after purchasing an additional 21,679 shares during the period. UBS Asset Management Americas Inc. raised its stake in GenMark Diagnostics by 111.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 49,400 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 26,000 shares during the period. OLD National Bancorp IN raised its stake in GenMark Diagnostics by 120.6% during the fourth quarter. OLD National Bancorp IN now owns 49,765 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 27,208 shares during the period. Fairpointe Capital LLC purchased a new position in GenMark Diagnostics during the fourth quarter worth approximately $220,000. Finally, FDx Advisors Inc. raised its stake in GenMark Diagnostics by 124.1% during the fourth quarter. FDx Advisors Inc. now owns 53,689 shares of the medical equipment provider’s stock worth $224,000 after purchasing an additional 29,729 shares during the period.
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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.
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