GenMark Diagnostics (NASDAQ:GNMK) had its price target cut by analysts at Canaccord Genuity from $10.00 to $9.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity’s target price points to a potential upside of 68.86% from the company’s current price.
Several other equities research analysts have also weighed in on the company. BidaskClub lowered GenMark Diagnostics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. ValuEngine raised GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a report on Friday, August 10th. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of GenMark Diagnostics in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. GenMark Diagnostics currently has an average rating of “Hold” and an average target price of $10.25.
NASDAQ GNMK opened at $5.33 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.80 and a current ratio of 2.04. GenMark Diagnostics has a twelve month low of $3.63 and a twelve month high of $8.81. The company has a market cap of $287.13 million, a P/E ratio of -4.40 and a beta of 0.90.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Monday, October 29th. The medical equipment provider reported ($0.20) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.20). GenMark Diagnostics had a negative return on equity of 87.85% and a negative net margin of 79.33%. The company had revenue of $15.80 million for the quarter, compared to analyst estimates of $15.76 million. Research analysts predict that GenMark Diagnostics will post -0.86 EPS for the current fiscal year.
In other GenMark Diagnostics news, CEO Hany Massarany sold 6,203 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $7.16, for a total value of $44,413.48. Following the sale, the chief executive officer now directly owns 682,491 shares of the company’s stock, valued at $4,886,635.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 20,230 shares of company stock worth $147,242 over the last three months. Corporate insiders own 7.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Donaldson Capital Management LLC boosted its holdings in GenMark Diagnostics by 22.2% in the second quarter. Donaldson Capital Management LLC now owns 83,003 shares of the medical equipment provider’s stock worth $530,000 after acquiring an additional 15,075 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of GenMark Diagnostics by 10.7% during the second quarter. Russell Investments Group Ltd. now owns 172,512 shares of the medical equipment provider’s stock valued at $1,100,000 after purchasing an additional 16,611 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of GenMark Diagnostics during the second quarter valued at $115,000. Northern Trust Corp lifted its holdings in shares of GenMark Diagnostics by 3.5% during the second quarter. Northern Trust Corp now owns 662,837 shares of the medical equipment provider’s stock valued at $4,229,000 after purchasing an additional 22,692 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of GenMark Diagnostics during the second quarter valued at $152,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.
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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