Wall Street analysts predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will report $21.01 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for GenMark Diagnostics’ earnings, with estimates ranging from $20.18 million to $21.65 million. GenMark Diagnostics posted sales of $15.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 33%. The company is expected to announce its next earnings report on Monday, November 4th.
On average, analysts expect that GenMark Diagnostics will report full-year sales of $88.27 million for the current year, with estimates ranging from $87.53 million to $89.50 million. For the next financial year, analysts forecast that the company will post sales of $115.70 million, with estimates ranging from $110.00 million to $122.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Monday, August 5th. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). GenMark Diagnostics had a negative return on equity of 167.54% and a negative net margin of 63.86%. The firm had revenue of $18.37 million for the quarter, compared to analyst estimates of $17.92 million.
GNMK has been the topic of a number of analyst reports. BidaskClub raised GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 price target on shares of GenMark Diagnostics in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. GenMark Diagnostics currently has an average rating of “Hold” and an average target price of $9.67.
In other GenMark Diagnostics news, Director Kevin C. Oboyle sold 18,350 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.51, for a total value of $119,458.50. Following the sale, the director now owns 102,112 shares of the company’s stock, valued at approximately $664,749.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hany Massarany sold 16,659 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $6.03, for a total value of $100,453.77. Following the completion of the sale, the chief executive officer now directly owns 800,212 shares in the company, valued at approximately $4,825,278.36. The disclosure for this sale can be found here. Insiders sold a total of 57,847 shares of company stock worth $359,859 in the last ninety days. 5.24% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of GenMark Diagnostics by 145.4% in the 2nd quarter. Bank of Montreal Can now owns 7,687 shares of the medical equipment provider’s stock valued at $50,000 after acquiring an additional 4,554 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of GenMark Diagnostics in the 2nd quarter valued at about $79,000. Susquehanna International Group LLP purchased a new position in shares of GenMark Diagnostics in the 2nd quarter valued at about $131,000. Prudential Financial Inc. purchased a new position in shares of GenMark Diagnostics in the 2nd quarter valued at about $141,000. Finally, ETF Managers Group LLC purchased a new position in shares of GenMark Diagnostics in the 2nd quarter valued at about $169,000. 91.00% of the stock is currently owned by institutional investors.
GNMK stock opened at $5.96 on Wednesday. The company has a debt-to-equity ratio of 3.69, a current ratio of 3.39 and a quick ratio of 2.83. The firm has a market capitalization of $329.42 million, a P/E ratio of -6.55 and a beta of 1.24. The business’s 50-day moving average is $5.85 and its two-hundred day moving average is $6.51. GenMark Diagnostics has a 1 year low of $3.58 and a 1 year high of $8.37.
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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