GenMark Diagnostics (NASDAQ:GNMK) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

A number of other research firms have also recently weighed in on GNMK. Canaccord Genuity lifted their price objective on GenMark Diagnostics from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of GenMark Diagnostics in a research report on Tuesday, July 31st. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Finally, ValuEngine raised GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $11.00.

GNMK stock opened at $8.08 on Tuesday. GenMark Diagnostics has a twelve month low of $3.63 and a twelve month high of $9.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.80 and a current ratio of 2.04. The stock has a market cap of $453.83 million, a PE ratio of -6.68 and a beta of 0.88.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Monday, July 30th. The medical equipment provider reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.09). GenMark Diagnostics had a negative net margin of 91.58% and a negative return on equity of 87.96%. The company had revenue of $14.94 million for the quarter, compared to analysts’ expectations of $14.74 million. equities analysts forecast that GenMark Diagnostics will post -0.85 earnings per share for the current fiscal year.

In related news, CEO Hany Massarany sold 6,203 shares of the business’s 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 transaction, the chief executive officer now directly 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 can be accessed through the SEC website. Over the last three months, insiders sold 20,230 shares of company stock worth $147,242. 7.09% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in GenMark Diagnostics by 0.5% in the 2nd quarter. FMR LLC now owns 8,311,860 shares of the medical equipment provider’s stock worth $53,030,000 after purchasing an additional 37,248 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in GenMark Diagnostics by 2.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,904,257 shares of the medical equipment provider’s stock worth $26,679,000 after purchasing an additional 131,504 shares in the last quarter. BlackRock Inc. lifted its holdings in GenMark Diagnostics by 8.1% in the 2nd quarter. BlackRock Inc. now owns 3,358,717 shares of the medical equipment provider’s stock worth $21,429,000 after purchasing an additional 250,306 shares in the last quarter. Bellevue Group AG lifted its holdings in GenMark Diagnostics by 53.4% in the 1st quarter. Bellevue Group AG now owns 1,186,502 shares of the medical equipment provider’s stock worth $6,455,000 after purchasing an additional 412,825 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in GenMark Diagnostics by 1,118.6% in the 2nd quarter. Millennium Management LLC now owns 741,752 shares of the medical equipment provider’s stock worth $4,732,000 after purchasing an additional 680,882 shares in the last quarter. 99.47% of the stock is currently owned by institutional investors.

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.

See Also: Earnings Per Share

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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