Needham & Company LLC Reaffirms Buy Rating for GenMark Diagnostics, Inc. (GNMK)
Needham & Company LLC reissued their buy rating on shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) in a research report released on Wednesday morning. The firm currently has a $15.00 target price on the medical equipment provider’s stock.
Other equities analysts also recently issued reports about the company. Canaccord Genuity reissued a buy rating and issued a $17.00 target price on shares of GenMark Diagnostics in a research report on Monday, June 12th. Bank of America Corporation initiated coverage on GenMark Diagnostics in a research report on Monday, September 18th. They issued a buy rating and a $13.00 target price on the stock. BTIG Research reissued a buy rating and issued a $13.00 target price on shares of GenMark Diagnostics in a research report on Thursday, August 31st. BidaskClub raised GenMark Diagnostics from a sell rating to a hold rating in a research report on Monday, July 24th. Finally, Cowen and Company reissued an outperform rating and issued a $17.00 target price on shares of GenMark Diagnostics in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $14.40.
Shares of GenMark Diagnostics (GNMK) traded up 1.46% during trading on Wednesday, hitting $9.74. The stock had a trading volume of 231,935 shares. GenMark Diagnostics has a 12 month low of $8.88 and a 12 month high of $13.67. The stock has a 50 day moving average of $9.51 and a 200 day moving average of $11.60. The company’s market cap is $532.46 million.
GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative net margin of 111.96% and a negative return on equity of 109.89%. The firm had revenue of $12.36 million during the quarter, compared to analyst estimates of $12.44 million. During the same period in the previous year, the company earned ($0.30) earnings per share. GenMark Diagnostics’s revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that GenMark Diagnostics will post ($1.07) EPS for the current fiscal year.
In other GenMark Diagnostics news, SVP Eric Stier sold 2,750 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $9.60, for a total transaction of $26,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott Mendel sold 2,898 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $9.45, for a total value of $27,386.10. Following the sale, the chief financial officer now directly owns 138,096 shares in the company, valued at $1,305,007.20. The disclosure for this sale can be found here. Insiders have sold a total of 58,736 shares of company stock worth $544,341 over the last ninety days. 7.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd acquired a new stake in GenMark Diagnostics during the 2nd quarter worth about $126,000. Legal & General Group Plc grew its position in GenMark Diagnostics by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 240 shares during the period. Susquehanna International Group LLP acquired a new stake in GenMark Diagnostics during the 2nd quarter worth about $137,000. Quantitative Systematic Strategies LLC grew its position in GenMark Diagnostics by 18.4% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock worth $159,000 after purchasing an additional 2,047 shares during the period. Finally, Voya Investment Management LLC grew its position in GenMark Diagnostics by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 2,943 shares during the period.
About GenMark Diagnostics
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
Receive News & Ratings for GenMark Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GenMark Diagnostics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.