Equities analysts expect GenMark Diagnostics, Inc. (NASDAQ:GNMK) to report ($0.05) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for GenMark Diagnostics’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.04). GenMark Diagnostics reported earnings of ($0.04) per share during the same quarter last year, which would indicate a negative year over year growth rate of 25%. The business is expected to issue its next earnings report on Monday, May 3rd.
On average, analysts expect that GenMark Diagnostics will report full year earnings of ($0.12) per share for the current fiscal year, with EPS estimates ranging from ($0.12) to ($0.11). For the next year, analysts expect that the firm will post earnings of $0.14 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Thursday, February 25th. The medical equipment provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $50.08 million during the quarter, compared to the consensus estimate of $50.00 million. GenMark Diagnostics had a negative net margin of 16.95% and a negative return on equity of 39.36%.
Several equities analysts have commented on GNMK shares. William Blair cut shares of GenMark Diagnostics from an “outperform” rating to a “market perform” rating in a research note on Monday, March 15th. BTIG Research reissued a “neutral” rating on shares of GenMark Diagnostics in a research note on Tuesday, March 23rd. Cowen reissued a “market perform” rating and set a $24.05 target price (up previously from $23.00) on shares of GenMark Diagnostics in a research note on Tuesday, March 23rd. Needham & Company LLC reissued a “hold” rating on shares of GenMark Diagnostics in a research note on Monday, March 22nd. Finally, Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.81.
GenMark Diagnostics stock traded down $0.07 during trading hours on Wednesday, hitting $23.93. 1,737,773 shares of the company traded hands, compared to its average volume of 2,711,403. The firm has a market cap of $1.75 billion, a P/E ratio of -58.36 and a beta of 3.02. The company has a quick ratio of 3.84, a current ratio of 4.33 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $21.61 and its two-hundred day simple moving average is $15.97. GenMark Diagnostics has a 1-year low of $4.87 and a 1-year high of $24.25.
In other news, VP Alan Baer Maderazo sold 5,000 shares of GenMark Diagnostics stock in a transaction that occurred on Wednesday, January 20th. The shares were sold at an average price of $15.00, for a total value of $75,000.00. Following the transaction, the vice president now owns 225,899 shares of the company’s stock, valued at approximately $3,388,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mendel sold 50,000 shares of GenMark Diagnostics stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $14.54, for a total transaction of $727,000.00. Following the completion of the transaction, the chief executive officer now directly owns 396,830 shares in the company, valued at approximately $5,769,908.20. The disclosure for this sale can be found here. Insiders sold a total of 234,050 shares of company stock worth $3,569,398 in the last ninety days. Corporate insiders own 3.25% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GNMK. Victory Capital Management Inc. increased its position in shares of GenMark Diagnostics by 49.4% in the third quarter. Victory Capital Management Inc. now owns 37,874 shares of the medical equipment provider’s stock worth $538,000 after acquiring an additional 12,529 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of GenMark Diagnostics in the third quarter worth approximately $31,000. JPMorgan Chase & Co. increased its position in shares of GenMark Diagnostics by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 25,961 shares of the medical equipment provider’s stock worth $363,000 after acquiring an additional 1,443 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of GenMark Diagnostics by 3.8% in the third quarter. UBS Asset Management Americas Inc. now owns 79,570 shares of the medical equipment provider’s stock worth $1,130,000 after acquiring an additional 2,878 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of GenMark Diagnostics by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 554,946 shares of the medical equipment provider’s stock worth $7,881,000 after acquiring an additional 65,114 shares in the last quarter. 96.94% of the stock is currently owned by institutional investors and hedge funds.
About GenMark Diagnostics
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular panels 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 technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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