Equities research analysts expect GenMark Diagnostics, Inc. (NASDAQ:GNMK) to post earnings per share (EPS) of ($0.24) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for GenMark Diagnostics’ earnings. The lowest EPS estimate is ($0.28) and the highest is ($0.17). GenMark Diagnostics posted earnings of ($0.27) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The business is expected to report its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that GenMark Diagnostics will report full-year earnings of ($1.17) per share for the current fiscal year, with EPS estimates ranging from ($1.22) to ($1.10). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.82) per share, with EPS estimates ranging from ($0.95) to ($0.71). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $14.56 million. GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.27) EPS.
GNMK has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of GenMark Diagnostics in a research note on Monday, October 30th. Cowen Inc restated a “buy” rating and issued a $10.00 target price on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of GenMark Diagnostics in a research note on Thursday, October 19th. Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.80.
Shares of GenMark Diagnostics (NASDAQ:GNMK) traded up $0.01 during trading hours on Friday, reaching $4.65. 139,375 shares of the company were exchanged, compared to its average volume of 1,259,340. The company has a quick ratio of 2.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.12. GenMark Diagnostics has a 12-month low of $3.63 and a 12-month high of $13.67.
In other GenMark Diagnostics news, 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 completion of the transaction, the senior vice president now directly owns 155,889 shares in the company, valued at approximately $1,415,472.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Stier sold 2,750 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.60, for a total transaction of $26,400.00. The disclosure for this sale can be found here. Insiders sold 59,650 shares of company stock valued at $471,189 in the last quarter. Company insiders own 7.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of GenMark Diagnostics by 2.1% during the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 240 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of GenMark Diagnostics by 0.8% during the second quarter. Rhumbline Advisers now owns 48,445 shares of the medical equipment provider’s stock worth $573,000 after buying an additional 408 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of GenMark Diagnostics by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 168,888 shares of the medical equipment provider’s stock worth $1,998,000 after buying an additional 1,268 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of GenMark Diagnostics by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 36,023 shares of the medical equipment provider’s stock worth $426,000 after buying an additional 1,410 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC grew its holdings in shares of GenMark Diagnostics by 18.4% during the second quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock worth $159,000 after buying an additional 2,047 shares in the last quarter.
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GenMark Diagnostics Company Profile
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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