Zacks Investment Research upgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California. “
GNMK has been the subject of several other reports. BidaskClub lowered shares of GenMark Diagnostics from a sell rating to a strong sell rating in a research report on Tuesday, November 6th. ValuEngine raised shares of GenMark Diagnostics from a sell rating to a hold rating in a research report on Friday, November 2nd. Finally, Canaccord Genuity decreased their price objective on shares of GenMark Diagnostics from $10.00 to $9.00 and set a buy rating for the company in a research report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. GenMark Diagnostics has an average rating of Hold and a consensus price target of $10.33.
Shares of GenMark Diagnostics stock opened at $5.03 on Wednesday. The company has a current ratio of 3.75, a quick ratio of 3.10 and a debt-to-equity ratio of 0.69. GenMark Diagnostics has a 52 week low of $3.98 and a 52 week high of $8.81.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings data on Monday, October 29th. The medical equipment provider reported ($0.20) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.20). The firm had revenue of $15.80 million during the quarter, compared to analyst estimates of $15.76 million. GenMark Diagnostics had a negative net margin of 79.33% and a negative return on equity of 95.36%. On average, research analysts anticipate that GenMark Diagnostics will post -0.86 EPS for the current fiscal year.
In related news, insider Hany Massarany sold 8,047 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $4.84, for a total value of $38,947.48. Following the transaction, the insider now owns 672,883 shares in the company, valued at approximately $3,256,753.72. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 21,250 shares of company stock worth $104,722. 7.50% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased 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 worth $19,207,000 after buying an additional 34,940 shares during the period. MetLife Investment Advisors LLC increased 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 worth $301,000 after buying an additional 14,546 shares during the period. JPMorgan Chase & Co. increased 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 worth $32,448,000 after buying an additional 36,100 shares during the period. Bellevue Group AG increased 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 worth $9,845,000 after buying an additional 153,000 shares during the period. Finally, Virtu Financial LLC acquired a new position in GenMark Diagnostics in the 3rd quarter worth approximately $179,000. Institutional investors own 97.02% of the company’s stock.
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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