Analysts Expect GenMark Diagnostics, Inc (NASDAQ:GNMK) Will Post Quarterly Sales of $21.01 Million
Equities analysts expect that GenMark Diagnostics, Inc (NASDAQ:GNMK) will post sales of $21.01 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for GenMark Diagnostics’ earnings. The lowest sales estimate is $20.18 million and the highest is $21.65 million. GenMark Diagnostics reported sales of $15.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 33%. The firm is expected to announce its next earnings results on Monday, November 4th.
According to Zacks, 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 fiscal year, analysts expect that the business will report sales of $115.70 million, with estimates ranging from $110.00 million to $122.27 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Monday, August 5th. The medical equipment provider reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.02). GenMark Diagnostics had a negative net margin of 63.86% and a negative return on equity of 167.54%. The firm had revenue of $18.37 million during the quarter, compared to the consensus estimate of $17.92 million.
In other GenMark Diagnostics news, Director Kevin C. Oboyle sold 18,350 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.51, for a total value of $119,458.50. Following the completion of the sale, the director now directly owns 102,112 shares of the company’s stock, valued at $664,749.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hany Massarany sold 8,080 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $6.25, for a total transaction of $50,500.00. Following the sale, the insider now owns 816,871 shares of the company’s stock, valued at $5,105,443.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,847 shares of company stock worth $359,859. 5.24% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP purchased a new stake in GenMark Diagnostics during the 2nd quarter valued at about $131,000. Nuveen Asset Management LLC bought a new position in GenMark Diagnostics during the 2nd quarter worth approximately $2,700,000. UBS Asset Management Americas Inc. increased its stake in GenMark Diagnostics by 22.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 51,946 shares of the medical equipment provider’s stock worth $337,000 after purchasing an additional 9,519 shares during the period. Morgan Stanley increased its stake in GenMark Diagnostics by 434.0% in the 2nd quarter. Morgan Stanley now owns 1,824,449 shares of the medical equipment provider’s stock worth $11,841,000 after purchasing an additional 1,482,787 shares during the period. Finally, AQR Capital Management LLC increased its stake in GenMark Diagnostics by 257.5% in the 2nd quarter. AQR Capital Management LLC now owns 42,210 shares of the medical equipment provider’s stock worth $274,000 after purchasing an additional 30,403 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.
GNMK stock traded up $0.30 during mid-day trading on Friday, hitting $6.12. 318,453 shares of the stock were exchanged, compared to its average volume of 339,452. The business has a fifty day moving average price of $6.23 and a 200 day moving average price of $6.80. GenMark Diagnostics has a 12 month low of $3.58 and a 12 month high of $8.37. 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 stock has a market capitalization of $337.74 million, a price-to-earnings ratio of -6.73 and a beta of 1.29.
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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