BidaskClub Downgrades GenMark Diagnostics (GNMK) to Sell

BidaskClub cut shares of GenMark Diagnostics (NASDAQ:GNMK) from a hold rating to a sell rating in a research report released on Friday morning.

A number of other research firms also recently issued reports on GNMK. Zacks Investment Research downgraded shares of GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, October 17th. Canaccord Genuity decreased their price target on shares of GenMark Diagnostics from $10.00 to $9.00 and set a buy rating for the company in a research note on Tuesday, October 30th. ValuEngine raised shares of GenMark Diagnostics from a sell rating to a hold rating in a research note on Friday, November 2nd. Finally, Raymond James set a $7.00 price target on shares of GenMark Diagnostics and gave the stock a buy rating in a research note on Thursday, December 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $9.50.

Shares of NASDAQ:GNMK opened at $5.85 on Friday. The stock has a market cap of $325.10 million, a PE ratio of -4.83 and a beta of 1.49. The company has a quick ratio of 3.10, a current ratio of 3.75 and a debt-to-equity ratio of 0.69. GenMark Diagnostics has a 12 month low of $3.58 and a 12 month high of $8.81.



In other GenMark Diagnostics news, CFO Scott Mendel sold 5,297 shares of the company’s stock in a transaction dated Wednesday, January 23rd. The shares were sold at an average price of $5.90, for a total value of $31,252.30. Following the sale, the chief financial officer now owns 235,777 shares in the company, valued at $1,391,084.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Hany Massarany sold 15,166 shares of the company’s stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $5.90, for a total transaction of $89,479.40. Following the completion of the sale, the insider now owns 692,062 shares in the company, valued at approximately $4,083,165.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,256 shares of company stock valued at $232,260. 7.09% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. OLD National Bancorp IN grew its holdings in GenMark Diagnostics by 5.9% in the fourth quarter. OLD National Bancorp IN now owns 48,475 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 2,700 shares during the period. Granite Investment Partners LLC grew its holdings in GenMark Diagnostics by 11.2% in the third quarter. Granite Investment Partners LLC now owns 111,905 shares of the medical equipment provider’s stock worth $823,000 after purchasing an additional 11,280 shares during the period. MetLife Investment Advisors LLC grew its holdings in GenMark Diagnostics by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 40,896 shares of the medical equipment provider’s stock worth $301,000 after purchasing an additional 14,546 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in GenMark Diagnostics in the fourth quarter worth about $84,000. Finally, Bank of New York Mellon Corp grew its holdings in GenMark Diagnostics by 7.5% in the fourth quarter. Bank of New York Mellon Corp now owns 232,611 shares of the medical equipment provider’s stock worth $1,130,000 after purchasing an additional 16,279 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

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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