Brokerages Set GenMark Diagnostics, Inc (GNMK) Price Target at $9.67

GenMark Diagnostics, Inc (NASDAQ:GNMK) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.67.

A number of equities analysts have recently issued reports on the company. BidaskClub downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Canaccord Genuity reissued a “buy” rating and set a $10.00 price target on shares of GenMark Diagnostics in a research report on Wednesday, May 1st.

In related news, CEO Hany Massarany sold 54,596 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $6.79, for a total transaction of $370,706.84. Following the completion of the sale, the chief executive officer now directly owns 849,404 shares in the company, valued at approximately $5,767,453.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Frederick Ek sold 5,205 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $6.79, for a total value of $35,341.95. Following the sale, the chief financial officer now owns 178,458 shares of the company’s stock, valued at $1,211,729.82. The disclosure for this sale can be found here. Insiders have sold a total of 140,153 shares of company stock valued at $996,548 over the last 90 days. 5.24% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of GenMark Diagnostics by 7.5% during the 3rd quarter. BlackRock Inc. now owns 3,609,795 shares of the medical equipment provider’s stock worth $26,532,000 after purchasing an additional 251,078 shares during the last quarter. JPMorgan Chase & Co. raised its stake in GenMark Diagnostics by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 4,414,814 shares of the medical equipment provider’s stock valued at $32,448,000 after buying an additional 36,100 shares during the last quarter. Granite Investment Partners LLC raised its stake in GenMark Diagnostics by 22.9% in the fourth quarter. Granite Investment Partners LLC now owns 137,497 shares of the medical equipment provider’s stock valued at $668,000 after buying an additional 25,592 shares during the last quarter. OLD National Bancorp IN raised its stake in GenMark Diagnostics by 5.9% in the fourth quarter. OLD National Bancorp IN now owns 48,475 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 2,700 shares during the last quarter. Finally, Northern Trust Corp raised its stake in GenMark Diagnostics by 1.4% in the fourth quarter. Northern Trust Corp now owns 690,110 shares of the medical equipment provider’s stock valued at $3,355,000 after buying an additional 9,785 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Shares of GNMK traded up $0.10 during midday trading on Monday, reaching $7.35. 12,381 shares of the stock were exchanged, compared to its average volume of 365,554. GenMark Diagnostics has a 52 week low of $3.58 and a 52 week high of $8.81. The company has a current ratio of 3.93, a quick ratio of 3.40 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $404.33 million, a price-to-earnings ratio of -8.08 and a beta of 1.55.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). GenMark Diagnostics had a negative return on equity of 137.04% and a negative net margin of 71.40%. The firm had revenue of $21.53 million for the quarter, compared to the consensus estimate of $21.08 million. On average, equities research analysts predict that GenMark Diagnostics will post -0.81 EPS for the current year.

GenMark Diagnostics Company Profile

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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