GenMark Diagnostics (NASDAQ:GNMK) Rating Lowered to Strong Sell at BidaskClub

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BidaskClub downgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from a sell rating to a strong sell rating in a research note published on Tuesday, BidAskClub reports.

GNMK has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Essential Properties Realty Trust from a buy rating to a hold rating in a research note on Thursday, June 13th. Canaccord Genuity restated a speculative buy rating and set a GBX 70 ($0.91) price target on shares of Bacanora Lithium in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $9.67.

NASDAQ GNMK opened at $6.34 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.40 and a current ratio of 3.93. The company has a market cap of $360.99 million, a price-to-earnings ratio of -6.97 and a beta of 1.33. The stock’s 50 day moving average price is $6.52. GenMark Diagnostics has a 52 week low of $3.58 and a 52 week high of $8.81.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Tuesday, April 30th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $21.53 million for the quarter, compared to the consensus estimate of $21.08 million. GenMark Diagnostics had a negative return on equity of 137.04% and a negative net margin of 71.40%. Analysts anticipate that GenMark Diagnostics will post -0.81 EPS for the current year.

In other GenMark Diagnostics news, SVP Michael Gleeson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $8.00, for a total transaction of $80,000.00. Following the transaction, the senior vice president now owns 363,101 shares in the company, valued at approximately $2,904,808. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hany Massarany sold 10,369 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $6.60, for a total transaction of $68,435.40. Following the transaction, the insider now owns 824,951 shares in the company, valued at approximately $5,444,676.60. The disclosure for this sale can be found here. Insiders have sold a total of 45,847 shares of company stock worth $320,643 in the last 90 days. 5.24% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of GNMK. FMR LLC boosted its holdings in shares of GenMark Diagnostics by 0.9% in the 1st quarter. FMR LLC now owns 8,470,863 shares of the medical equipment provider’s stock valued at $60,058,000 after acquiring an additional 77,571 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of GenMark Diagnostics by 0.8% in the 4th quarter. BlackRock Inc. now owns 3,638,332 shares of the medical equipment provider’s stock valued at $17,683,000 after acquiring an additional 28,537 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of GenMark Diagnostics by 21.2% in the 4th quarter. Bank of America Corp DE now owns 1,203,510 shares of the medical equipment provider’s stock valued at $5,848,000 after acquiring an additional 210,171 shares during the last quarter. Penn Capital Management Co. Inc. boosted its holdings in shares of GenMark Diagnostics by 76.0% in the 4th quarter. Penn Capital Management Co. Inc. now owns 800,756 shares of the medical equipment provider’s stock valued at $3,892,000 after acquiring an additional 345,692 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of GenMark Diagnostics by 22.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 776,192 shares of the medical equipment provider’s stock valued at $5,503,000 after acquiring an additional 141,020 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

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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