Wall Street brokerages expect that GenMark Diagnostics, Inc (NASDAQ:GNMK) will post $14.74 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for GenMark Diagnostics’ earnings, with the lowest sales estimate coming in at $14.10 million and the highest estimate coming in at $15.10 million. GenMark Diagnostics posted sales of $12.36 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 7th.
According to Zacks, analysts expect that GenMark Diagnostics will report full year sales of $70.98 million for the current year, with estimates ranging from $70.50 million to $71.65 million. For the next year, analysts expect that the firm will post sales of $86.75 million per share, with estimates ranging from $83.94 million to $90.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Tuesday, May 1st. The medical equipment provider reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. GenMark Diagnostics had a negative return on equity of 77.35% and a negative net margin of 97.90%. The company had revenue of $20.65 million during the quarter, compared to analyst estimates of $17.12 million.
Several equities research analysts have commented on GNMK shares. BidaskClub upgraded GenMark Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. BTIG Research set a $11.00 price objective on GenMark Diagnostics and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. Canaccord Genuity cut their price objective on GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of GenMark Diagnostics in a research note on Tuesday, April 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. GenMark Diagnostics currently has a consensus rating of “Buy” and an average price target of $10.60.
In other news, insider Hany Massarany sold 4,168 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $6.88, for a total transaction of $28,675.84. Following the transaction, the insider now directly owns 694,208 shares in the company, valued at approximately $4,776,151.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Eric Stier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $5.46, for a total value of $54,600.00. Following the transaction, the senior vice president now owns 197,502 shares in the company, valued at $1,078,360.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,830 shares of company stock worth $424,172. Insiders own 7.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in shares of GenMark Diagnostics by 1.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 596,762 shares of the medical equipment provider’s stock worth $3,246,000 after purchasing an additional 7,792 shares during the last quarter. Teachers Advisors LLC lifted its holdings in GenMark Diagnostics by 11.3% in the fourth quarter. Teachers Advisors LLC now owns 125,245 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 12,713 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in GenMark Diagnostics by 111.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 49,400 shares of the medical equipment provider’s stock valued at $206,000 after acquiring an additional 26,000 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in GenMark Diagnostics in the first quarter valued at approximately $143,000. Finally, FDx Advisors Inc. lifted its holdings in GenMark Diagnostics by 124.1% in the fourth quarter. FDx Advisors Inc. now owns 53,689 shares of the medical equipment provider’s stock valued at $224,000 after acquiring an additional 29,729 shares during the last quarter.
NASDAQ:GNMK traded down $0.35 during trading hours on Friday, hitting $6.72. 156,500 shares of the stock were exchanged, compared to its average volume of 363,556. GenMark Diagnostics has a 52-week low of $3.63 and a 52-week high of $12.80. The company has a current ratio of 2.79, a quick ratio of 2.45 and a debt-to-equity ratio of 0.24. The firm has a market cap of $391.76 million, a P/E ratio of -5.84 and a beta of 0.60.
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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