GenMark Diagnostics (NASDAQ:GNMK) Upgraded at BidaskClub

BidaskClub upgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from a strong sell rating to a sell rating in a research report sent to investors on Saturday, BidAskClub reports.

Several other equities analysts have also recently weighed in on GNMK. Canaccord Genuity reaffirmed a buy rating and issued a $10.00 price objective on shares of GenMark Diagnostics in a report on Monday, July 1st. Zacks Investment Research cut GenMark Diagnostics from a hold rating to a sell rating in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. GenMark Diagnostics currently has an average rating of Hold and an average price target of $9.67.

NASDAQ:GNMK opened at $6.42 on Friday. The stock has a market cap of $368.76 million, a P/E ratio of -7.05 and a beta of 1.29. The stock has a 50 day simple moving average of $6.18 and a 200 day simple moving average of $6.71. The company has a current ratio of 3.39, a quick ratio of 2.83 and a debt-to-equity ratio of 3.69. GenMark Diagnostics has a 1-year low of $3.58 and a 1-year high of $8.37.



GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Monday, August 5th. The medical equipment provider reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). The firm had revenue of $18.37 million for the quarter, compared to analyst estimates of $17.92 million. GenMark Diagnostics had a negative return on equity of 167.54% and a negative net margin of 63.86%. As a group, sell-side analysts forecast that GenMark Diagnostics will post -0.8 EPS for the current year.

In other news, Director Kevin C. Oboyle sold 18,350 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.51, for a total transaction of $119,458.50. Following the completion of the transaction, the director now owns 102,112 shares of the company’s stock, valued at approximately $664,749.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hany Massarany sold 16,659 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $6.03, for a total value of $100,453.77. Following the transaction, the chief executive officer now directly owns 800,212 shares of the company’s stock, valued at approximately $4,825,278.36. The disclosure for this sale can be found here. Insiders have sold a total of 57,847 shares of company stock valued at $359,859 in the last three months. 5.24% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of GNMK. Morgan Stanley raised its holdings in shares of GenMark Diagnostics by 434.0% during the 2nd quarter. Morgan Stanley now owns 1,824,449 shares of the medical equipment provider’s stock worth $11,841,000 after buying an additional 1,482,787 shares in the last quarter. Cadian Capital Management LP raised its holdings in shares of GenMark Diagnostics by 9.5% during the 2nd quarter. Cadian Capital Management LP now owns 5,640,748 shares of the medical equipment provider’s stock worth $36,608,000 after buying an additional 488,739 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of GenMark Diagnostics during the 2nd quarter worth $2,700,000. Renaissance Technologies LLC raised its holdings in shares of GenMark Diagnostics by 156.6% during the 2nd quarter. Renaissance Technologies LLC now owns 339,100 shares of the medical equipment provider’s stock worth $2,201,000 after buying an additional 206,965 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of GenMark Diagnostics by 5.3% during the 2nd quarter. BlackRock Inc. now owns 3,809,177 shares of the medical equipment provider’s stock worth $24,722,000 after buying an additional 193,216 shares in the last quarter. 91.00% of the stock is 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.

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