Wall Street analysts expect GenMark Diagnostics, Inc (NASDAQ:GNMK) to report $17.92 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for GenMark Diagnostics’ earnings. The lowest sales estimate is $16.90 million and the highest is $18.86 million. GenMark Diagnostics reported sales of $14.94 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.9%. The firm is expected to issue its next earnings results on Monday, July 29th.
According to Zacks, analysts expect that GenMark Diagnostics will report full year sales of $87.70 million for the current year, with estimates ranging from $86.25 million to $88.50 million. For the next financial year, analysts anticipate that the company will report sales of $115.47 million, with estimates ranging from $110.00 million to $121.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). GenMark Diagnostics had a negative return on equity of 137.04% and a negative net margin of 71.40%. The business had revenue of $21.53 million for the quarter, compared to analysts’ expectations of $21.08 million.
A number of equities research analysts have recently weighed in on GNMK shares. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, March 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 target price on shares of GenMark Diagnostics in a report on Friday, February 22nd. Zacks Investment Research raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, February 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 target price on shares of GenMark Diagnostics in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.67.
In other GenMark Diagnostics news, SVP Michael Gleeson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $8.00, for a total value of $80,000.00. Following the completion of the transaction, the senior vice president now directly owns 363,101 shares of the company’s stock, valued at $2,904,808. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hany Massarany sold 7,837 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $6.83, for a total value of $53,526.71. Following the completion of the transaction, the chief executive officer now directly owns 841,567 shares of the company’s stock, valued at $5,747,902.61. The disclosure for this sale can be found here. Insiders have sold 142,965 shares of company stock valued at $1,022,780 in the last ninety days. Corporate insiders own 5.24% of the company’s stock.
Large investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in GenMark Diagnostics by 123.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,466 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 2,466 shares during the period. Ameritas Investment Corp acquired a new position in GenMark Diagnostics in the first quarter valued at approximately $43,000. Legal & General Group Plc lifted its holdings in GenMark Diagnostics by 48.6% in the fourth quarter. Legal & General Group Plc now owns 11,308 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 3,700 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in GenMark Diagnostics by 56,694.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,791 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 10,772 shares during the period. Finally, Paloma Partners Management Co acquired a new position in GenMark Diagnostics in the fourth quarter valued at approximately $80,000. 91.76% of the stock is owned by institutional investors.
Shares of GNMK stock remained flat at $$6.67 during trading hours on Friday. The stock had a trading volume of 92,272 shares, compared to its average volume of 351,463. GenMark Diagnostics has a 1-year low of $3.58 and a 1-year high of $8.81. The stock has a market capitalization of $380.38 million, a price-to-earnings ratio of -7.33 and a beta of 1.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.93 and a quick ratio of 3.40.
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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