GenMark Diagnostics (NASDAQ:GNMK)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Friday. They currently have a $12.00 target price on the medical equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 75.95% from the company’s previous close.
The analysts wrote, “GNMK’s 4Q18 revenue was consistent with its preannouncement while its EPS missed consensus. Management provided 2019 revenue guidance that was above consensus at the mid-point and ePlex placement guidance that was above our estimate at the mid-point. GNMK placed 42 ePlex systems in 4Q18, down from 45 in 3Q18 but above our estimate of 39. We believe the 4Q18 results provide further evidence that ePlex is gaining momentum while GNMK works out its manufacturing growing pains. We think an expanding test menu should help drive ePlex placements and utilization 2019 and we reiterate our Buy rating.””
Other equities analysts have also recently issued research reports about the company. ValuEngine raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. BidaskClub cut GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. Raymond James set a $7.00 target price on GenMark Diagnostics and gave the company a “buy” rating in a report on Thursday, December 27th. William Blair reissued an “outperform” rating on shares of GenMark Diagnostics in a report on Friday, December 21st. Finally, Canaccord Genuity reduced their target price on GenMark Diagnostics from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. GenMark Diagnostics has a consensus rating of “Hold” and a consensus price target of $9.75.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, February 21st. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). GenMark Diagnostics had a negative return on equity of 95.36% and a negative net margin of 79.33%. As a group, equities research analysts expect that GenMark Diagnostics will post -0.86 EPS for the current year.
In related news, insider Hany Massarany sold 5,884 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $5.08, for a total value of $29,890.72. Following the completion of the sale, the insider now owns 666,999 shares of the company’s stock, valued at $3,388,354.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Scott Mendel sold 5,297 shares of the stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $5.90, for a total value of $31,252.30. Following the completion of the sale, the chief financial officer now directly owns 235,777 shares of the company’s stock, valued at approximately $1,391,084.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,173 shares of company stock valued at $245,445. Insiders own 7.09% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in shares of GenMark Diagnostics by 48.6% in the fourth quarter. Legal & General Group Plc now owns 11,308 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,700 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of GenMark Diagnostics in the fourth quarter valued at approximately $84,000. Paloma Partners Management Co purchased a new position in GenMark Diagnostics in the fourth quarter worth approximately $80,000. Metropolitan Life Insurance Co. NY grew its position in GenMark Diagnostics by 365.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,530 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 14,546 shares during the period. Finally, Virtu Financial LLC purchased a new position in GenMark Diagnostics in the third quarter worth approximately $179,000. 97.62% of the stock is owned by hedge funds and other institutional investors.
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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