Analysts Set GenMark Diagnostics, Inc (NASDAQ:GNMK) Target Price at $10.33

GenMark Diagnostics, Inc (NASDAQ:GNMK) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $9.67.

A number of research firms recently commented on GNMK. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Finally, ValuEngine upgraded shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 19th.

NASDAQ:GNMK traded up $0.05 during trading hours on Friday, hitting $5.50. 11,218 shares of the company were exchanged, compared to its average volume of 346,499. The stock has a market capitalization of $324.09 million, a price-to-earnings ratio of -6.00 and a beta of 1.17. GenMark Diagnostics has a one year low of $3.58 and a one year high of $8.37. The company has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $6.16. The company has a current ratio of 2.69, a quick ratio of 2.11 and a debt-to-equity ratio of 6.40.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $20.92 million during the quarter, compared to analyst estimates of $20.66 million. GenMark Diagnostics had a negative net margin of 60.63% and a negative return on equity of 239.16%. Equities research analysts predict that GenMark Diagnostics will post -0.81 earnings per share for the current fiscal year.

In other news, CEO Hany Massarany sold 7,744 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $5.55, for a total transaction of $42,979.20. Following the sale, the chief executive officer now owns 792,468 shares in the company, valued at $4,398,197.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Sarah Hollis Winkler sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $5.62, for a total transaction of $30,910.00. Following the sale, the vice president now directly owns 56,292 shares of the company’s stock, valued at approximately $316,361.04. The disclosure for this sale can be found here. Insiders have sold 49,268 shares of company stock worth $272,529 in the last ninety days. Insiders own 5.24% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. OLD National Bancorp IN lifted its holdings in shares of GenMark Diagnostics by 9.4% during the second quarter. OLD National Bancorp IN now owns 38,104 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 3,285 shares during the last quarter. SG Americas Securities LLC bought a new stake in GenMark Diagnostics in the 2nd quarter worth $79,000. Wrapmanager Inc. grew its holdings in GenMark Diagnostics by 18.6% in the 2nd quarter. Wrapmanager Inc. now owns 63,287 shares of the medical equipment provider’s stock worth $411,000 after acquiring an additional 9,909 shares during the last quarter. Stephens Inc. AR increased its position in shares of GenMark Diagnostics by 24.3% in the second quarter. Stephens Inc. AR now owns 36,795 shares of the medical equipment provider’s stock valued at $239,000 after acquiring an additional 7,193 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in shares of GenMark Diagnostics in the second quarter valued at about $361,000. Hedge funds and other institutional investors own 90.92% of the company’s stock.

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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