Shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) reached a new 52-week low during trading on Thursday . The stock traded as low as $8.87 and last traded at $8.87, with a volume of 184,522 shares changing hands. The stock had previously closed at $9.18.
Several analysts have recently commented on GNMK shares. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, October 4th. Canaccord Genuity restated a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. Bank of America Corporation began coverage on shares of GenMark Diagnostics in a report on Monday, September 18th. They issued a “buy” rating and a $13.00 price objective on the stock. BTIG Research restated a “buy” rating and issued a $13.00 price objective on shares of GenMark Diagnostics in a report on Thursday, August 31st. Finally, BidaskClub upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $14.40.
The firm’s 50-day moving average is $9.50 and its 200 day moving average is $11.51. The firm’s market cap is $482.16 million.
GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The business had revenue of $12.36 million for the quarter, compared to the consensus estimate of $12.44 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts predict that GenMark Diagnostics, Inc. will post ($1.07) EPS for the current fiscal year.
In other GenMark Diagnostics news, SVP Eric Stier sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $9.60, for a total transaction of $26,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jennifer Anne Williams sold 38,681 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.08, for a total transaction of $351,223.48. Following the sale, the senior vice president now directly owns 155,889 shares in the company, valued at $1,415,472.12. The disclosure for this sale can be found here. Insiders have sold a total of 58,736 shares of company stock worth $544,341 over the last three months. Insiders own 7.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in GenMark Diagnostics by 13.6% during the 2nd quarter. FMR LLC now owns 8,020,502 shares of the medical equipment provider’s stock worth $94,883,000 after acquiring an additional 962,822 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in GenMark Diagnostics by 15.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock worth $48,476,000 after acquiring an additional 559,629 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of GenMark Diagnostics by 14.3% in the 2nd quarter. Jennison Associates LLC now owns 3,541,747 shares of the medical equipment provider’s stock valued at $41,899,000 after purchasing an additional 443,005 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of GenMark Diagnostics by 12.7% in the 2nd quarter. HighTower Advisors LLC now owns 2,360,984 shares of the medical equipment provider’s stock valued at $27,930,000 after purchasing an additional 266,969 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of GenMark Diagnostics by 25.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,252,831 shares of the medical equipment provider’s stock valued at $26,651,000 after purchasing an additional 453,329 shares during 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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