BTIG Research set a $11.00 price objective on GenMark Diagnostics (NASDAQ:GNMK) in a report released on Tuesday. The brokerage currently has a buy rating on the medical equipment provider’s stock.
Several other equities analysts have also recently issued reports on GNMK. Bank of America initiated coverage on GenMark Diagnostics in a research report on Monday, September 18th. They issued a buy rating and a $13.00 price objective on the stock. Canaccord Genuity reissued a buy rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. Needham & Company LLC reissued a buy rating and set a $15.00 price target on shares of GenMark Diagnostics in a report on Wednesday, October 4th. Raymond James Financial reissued a market perform rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. Finally, Cowen reissued a buy rating and set a $10.00 price target on shares of GenMark Diagnostics in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. GenMark Diagnostics presently has a consensus rating of Hold and a consensus price target of $11.80.
GenMark Diagnostics (GNMK) traded up $0.05 during mid-day trading on Tuesday, reaching $4.71. The company had a trading volume of 230,700 shares, compared to its average volume of 513,817. The company has a market cap of $255.35, a PE ratio of -3.86 and a beta of 0.65. GenMark Diagnostics has a fifty-two week low of $3.63 and a fifty-two 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 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 consensus estimate of ($0.26) by ($0.02). The business had revenue of $11.60 million during the quarter, compared to the consensus estimate of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted ($0.27) earnings per share. analysts predict that GenMark Diagnostics will post -1.18 EPS for the current year.
In other news, Director Michael Kagnoff purchased 20,000 shares of the stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of $4.13 per share, with a total value of $82,600.00. Following the acquisition, the director now directly owns 64,413 shares of the company’s stock, valued at $266,025.69. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $4.74, for a total value of $39,114.48. Following the completion of the sale, the insider now owns 362,957 shares of the company’s stock, valued at $1,720,416.18. The disclosure for this sale can be found here. Insiders have sold a total of 18,407 shares of company stock worth $92,878 over the last three months. Insiders own 7.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd purchased a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $126,000. Legal & General Group Plc increased its stake in shares of GenMark Diagnostics by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 240 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $137,000. Wrapmanager Inc. purchased a new stake in shares of GenMark Diagnostics in the 3rd quarter worth $172,000. Finally, Voya Investment Management LLC increased its stake in shares of GenMark Diagnostics by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 2,943 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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