Wall Street brokerages expect that GenMark Diagnostics, Inc (NASDAQ:GNMK) will report $21.01 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for GenMark Diagnostics’ earnings, with the highest sales estimate coming in at $21.65 million and the lowest estimate coming in at $20.18 million. GenMark Diagnostics reported sales of $15.80 million in the same quarter last year, which indicates a positive year-over-year growth rate of 33%. The firm is expected to announce its next quarterly earnings report on Monday, November 4th.
On average, 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 anticipate that the company will post sales of $115.70 million, with estimates ranging from $110.00 million to $122.27 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last posted 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). GenMark Diagnostics had a negative return on equity of 167.54% and a negative net margin of 63.86%. The business had revenue of $18.37 million during the quarter, compared to analysts’ expectations of $17.92 million.
In related news, insider Hany Massarany sold 8,080 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $6.25, for a total transaction of $50,500.00. Following the completion of the sale, the insider now owns 816,871 shares in the company, valued at $5,105,443.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin C. Oboyle sold 18,350 shares of the company’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 sale, the director now owns 102,112 shares of the company’s stock, valued at approximately $664,749.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,847 shares of company stock valued at $359,859. 5.24% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its position in GenMark Diagnostics by 145.4% during the second quarter. Bank of Montreal Can now owns 7,687 shares of the medical equipment provider’s stock valued at $50,000 after acquiring an additional 4,554 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in GenMark Diagnostics by 56,694.7% during the first quarter. BNP Paribas Arbitrage SA now owns 10,791 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 10,772 shares during the last quarter. SG Americas Securities LLC bought a new stake in GenMark Diagnostics during the second quarter valued at about $79,000. Susquehanna International Group LLP bought a new stake in GenMark Diagnostics during the second quarter valued at about $131,000. Finally, Prudential Financial Inc. bought a new stake in GenMark Diagnostics during the second quarter valued at about $141,000. Institutional investors own 91.00% of the company’s stock.
Shares of GNMK stock traded up $0.10 during mid-day trading on Tuesday, hitting $5.83. The company’s stock had a trading volume of 199,000 shares, compared to its average volume of 329,129. GenMark Diagnostics has a 52-week low of $3.58 and a 52-week high of $8.37. The business has a 50-day moving average price of $6.07 and a 200 day moving average price of $6.65. The company has a debt-to-equity ratio of 3.69, a quick ratio of 2.83 and a current ratio of 3.39. The stock has a market cap of $330.28 million, a price-to-earnings ratio of -6.41 and a beta of 1.24.
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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