GenMark Diagnostics (GNMK) Lowered to Strong Sell at BidaskClub

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BidaskClub cut shares of GenMark Diagnostics (NASDAQ:GNMK) from a sell rating to a strong sell rating in a report published on Tuesday morning.

Several other equities research analysts also recently commented on GNMK. Zacks Investment Research downgraded GenMark Diagnostics from a hold rating to a sell rating in a report on Wednesday, July 18th. Needham & Company LLC reissued a buy rating and issued a $11.00 price objective on shares of GenMark Diagnostics in a report on Tuesday, July 31st. Canaccord Genuity increased their price objective on GenMark Diagnostics from $9.00 to $10.00 and gave the company a buy rating in a report on Tuesday, July 31st. Finally, ValuEngine raised GenMark Diagnostics from a strong sell rating to a sell rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $10.33.

Shares of GNMK opened at $4.85 on Tuesday. The company has a market cap of $247.32 million, a PE ratio of -4.01 and a beta of 1.26. GenMark Diagnostics has a twelve month low of $3.98 and a twelve month high of $8.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.75 and a quick ratio of 3.10.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Monday, October 29th. The medical equipment provider reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $15.80 million during the quarter, compared to analysts’ expectations of $15.76 million. GenMark Diagnostics had a negative net margin of 79.33% and a negative return on equity of 95.36%. As a group, sell-side analysts expect that GenMark Diagnostics will post -0.86 EPS for the current fiscal year.

In other news, CEO Hany Massarany sold 6,203 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $7.16, for a total value of $44,413.48. Following the completion of the sale, the chief executive officer now owns 682,491 shares of the company’s stock, valued at approximately $4,886,635.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 22,099 shares of company stock valued at $152,636. 7.50% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC acquired a new stake in GenMark Diagnostics during the 2nd quarter valued at $115,000. Dynamic Technology Lab Private Ltd acquired a new stake in GenMark Diagnostics during the 2nd quarter valued at $152,000. Fox Run Management L.L.C. acquired a new stake in GenMark Diagnostics during the 2nd quarter valued at $168,000. Engineers Gate Manager LP acquired a new stake in GenMark Diagnostics during the 3rd quarter valued at $213,000. Finally, Donaldson Capital Management LLC lifted its holdings in GenMark Diagnostics by 22.2% during the 2nd quarter. Donaldson Capital Management LLC now owns 83,003 shares of the medical equipment provider’s stock valued at $530,000 after purchasing an additional 15,075 shares during the last quarter. 99.28% of the stock is owned by institutional investors and hedge funds.

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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