Brokerages predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will post earnings of ($0.16) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for GenMark Diagnostics’ earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.18). GenMark Diagnostics posted earnings per share of ($0.26) during the same quarter last year, which would indicate a positive year-over-year growth rate of 38.5%. The business is expected to issue its next earnings report on Tuesday, February 26th.
On average, analysts expect that GenMark Diagnostics will report full-year earnings of ($0.86) per share for the current year, with EPS estimates ranging from ($0.88) to ($0.84). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.65) per share, with EPS estimates ranging from ($0.71) to ($0.60). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Monday, October 29th. The medical equipment provider reported ($0.20) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.20). GenMark Diagnostics had a negative return on equity of 95.36% and a negative net margin of 79.33%. The business had revenue of $15.80 million for the quarter, compared to the consensus estimate of $15.76 million.
A number of research analysts recently weighed in on GNMK shares. Canaccord Genuity cut their price objective on GenMark Diagnostics from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, October 30th. BidaskClub downgraded GenMark Diagnostics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. ValuEngine raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.33.
Shares of GNMK stock opened at $5.03 on Wednesday. The company has a quick ratio of 3.10, a current ratio of 3.75 and a debt-to-equity ratio of 0.69. GenMark Diagnostics has a twelve month low of $3.98 and a twelve month high of $8.81.
In other GenMark Diagnostics news, insider Hany Massarany sold 5,884 shares of the firm’s 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 sale, the insider now owns 666,999 shares of the company’s stock, valued at approximately $3,388,354.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 21,250 shares of company stock worth $104,722 in the last ninety days. Insiders own 7.50% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in GenMark Diagnostics by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,613,213 shares of the medical equipment provider’s stock valued at $19,207,000 after buying an additional 34,940 shares during the last quarter. MetLife Investment Advisors LLC grew its holdings in GenMark Diagnostics by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 40,896 shares of the medical equipment provider’s stock valued at $301,000 after buying an additional 14,546 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in GenMark Diagnostics by 0.8% in the 3rd 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. Bellevue Group AG grew its holdings in GenMark Diagnostics by 12.9% in the 3rd quarter. Bellevue Group AG now owns 1,339,502 shares of the medical equipment provider’s stock valued at $9,845,000 after buying an additional 153,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in GenMark Diagnostics in the 3rd quarter valued at approximately $179,000. 97.02% of the stock is currently 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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