GenMark Diagnostics (NASDAQ:GNMK) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, BidAskClub reports.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. Canaccord Genuity restated a “buy” rating and set a $10.00 price objective on shares of GenMark Diagnostics in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.67.
NASDAQ:GNMK opened at $6.28 on Monday. GenMark Diagnostics has a twelve month low of $3.58 and a twelve month high of $8.81. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.40 and a current ratio of 3.93. The firm’s 50-day simple moving average is $6.88. The company has a market cap of $358.14 million, a price-to-earnings ratio of -6.90 and a beta of 1.47.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Tuesday, April 30th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). GenMark Diagnostics had a negative net margin of 71.40% and a negative return on equity of 137.04%. The business had revenue of $21.53 million for the quarter, compared to the consensus estimate of $21.08 million. As a group, equities analysts forecast that GenMark Diagnostics will post -0.81 earnings per share for the current year.
In other GenMark Diagnostics news, insider Hany Massarany sold 10,369 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $6.60, for a total value of $68,435.40. Following the completion of the transaction, the insider now directly owns 824,951 shares in the company, valued at $5,444,676.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael Gleeson sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $7.51, for a total transaction of $75,100.00. Following the completion of the transaction, the senior vice president now owns 373,101 shares of the company’s stock, valued at $2,801,988.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,847 shares of company stock valued at $395,743. Corporate insiders own 5.24% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of GenMark Diagnostics by 0.9% in the first quarter. FMR LLC now owns 8,470,863 shares of the medical equipment provider’s stock worth $60,058,000 after buying an additional 77,571 shares during the period. Casdin Capital LLC boosted its holdings in shares of GenMark Diagnostics by 9.0% in the fourth quarter. Casdin Capital LLC now owns 3,815,000 shares of the medical equipment provider’s stock worth $18,541,000 after buying an additional 315,000 shares during the period. BlackRock Inc. boosted its holdings in shares of GenMark Diagnostics by 0.8% in the fourth quarter. BlackRock Inc. now owns 3,638,332 shares of the medical equipment provider’s stock worth $17,683,000 after buying an additional 28,537 shares during the period. Bellevue Group AG boosted its holdings in shares of GenMark Diagnostics by 49.3% in the fourth quarter. Bellevue Group AG now owns 1,999,540 shares of the medical equipment provider’s stock worth $9,718,000 after buying an additional 660,038 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of GenMark Diagnostics by 21.2% in the fourth quarter. Bank of America Corp DE now owns 1,203,510 shares of the medical equipment provider’s stock worth $5,848,000 after buying an additional 210,171 shares during the period. Institutional investors own 91.07% of the company’s stock.
About GenMark Diagnostics
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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