GenMark Diagnostics, Inc (NASDAQ:GNMK)’s stock price shot up 5.2% during trading on Wednesday . The stock traded as high as $6.25 and last traded at $6.12, 318,453 shares were traded during mid-day trading. A decline of 6% from the average session volume of 339,452 shares. The stock had previously closed at $5.82.
A number of analysts have weighed in on the company. BidaskClub cut GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 23rd. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 price objective on shares of GenMark Diagnostics in a research report on Monday, July 1st. Finally, Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $9.67.
The company has a market capitalization of $337.74 million, a PE ratio of -6.73 and a beta of 1.29. The company has a debt-to-equity ratio of 3.69, a current ratio of 3.39 and a quick ratio of 2.83. The company’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $6.80.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data on Monday, August 5th. The medical equipment provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The company had revenue of $18.37 million for the quarter, compared to analyst estimates of $17.92 million. GenMark Diagnostics had a negative return on equity of 167.54% and a negative net margin of 63.86%. On average, equities analysts forecast that GenMark Diagnostics, Inc will post -0.8 EPS for the current year.
In related news, CEO Hany Massarany sold 16,659 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $6.03, for a total value of $100,453.77. Following the completion of the sale, the chief executive officer now directly owns 800,212 shares of the company’s stock, valued at approximately $4,825,278.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin C. Oboyle sold 18,350 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.51, for a total value of $119,458.50. Following the completion of the sale, the director now directly owns 102,112 shares of the company’s stock, valued at $664,749.12. The disclosure for this sale can be found here. Insiders sold a total of 57,847 shares of company stock worth $359,859 over the last ninety days. Insiders own 5.24% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GNMK. FMR LLC increased its position in GenMark Diagnostics by 0.9% during 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. Cadian Capital Management LP boosted its holdings in shares of GenMark Diagnostics by 9.5% in the second quarter. Cadian Capital Management LP now owns 5,640,748 shares of the medical equipment provider’s stock valued at $36,608,000 after acquiring an additional 488,739 shares during the period. BlackRock Inc. boosted its holdings in shares of GenMark Diagnostics by 5.3% in the second quarter. BlackRock Inc. now owns 3,809,177 shares of the medical equipment provider’s stock valued at $24,722,000 after acquiring an additional 193,216 shares during the period. HighTower Advisors LLC grew its position in shares of GenMark Diagnostics by 2.8% during the second quarter. HighTower Advisors LLC now owns 2,611,855 shares of the medical equipment provider’s stock worth $16,950,000 after acquiring an additional 71,814 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of GenMark Diagnostics by 434.0% during the second quarter. Morgan Stanley now owns 1,824,449 shares of the medical equipment provider’s stock worth $11,841,000 after acquiring an additional 1,482,787 shares during the last quarter. Hedge funds and other institutional investors own 91.03% of the company’s stock.
GenMark Diagnostics Company Profile (NASDAQ:GNMK)
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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