Wall Street analysts predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will announce $21.01 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for GenMark Diagnostics’ earnings. The highest sales estimate is $21.65 million and the lowest is $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 business is scheduled to issue its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that GenMark Diagnostics will report full year sales of $88.27 million for the current financial year, with estimates ranging from $87.53 million to $89.50 million. For the next year, analysts expect that the business will report sales of $115.70 million, with estimates ranging from $110.00 million to $122.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Monday, August 5th. The medical equipment provider reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $18.37 million for the quarter, compared to analysts’ expectations of $17.92 million. GenMark Diagnostics had a negative net margin of 63.86% and a negative return on equity of 167.54%.
Shares of GenMark Diagnostics stock opened at $5.96 on Wednesday. The firm has a market cap of $329.42 million, a P/E ratio of -6.55 and a beta of 1.24. 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 12 month low of $3.58 and a 12 month high of $8.37. The stock’s fifty day moving average price is $5.85 and its 200-day moving average price is $6.51.
In other GenMark Diagnostics news, insider Hany Massarany sold 8,080 shares of GenMark Diagnostics stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $6.25, for a total value of $50,500.00. Following the transaction, the insider now owns 816,871 shares in the company, valued at $5,105,443.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin C. Oboyle sold 18,350 shares of GenMark Diagnostics stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.51, for a total value of $119,458.50. Following the completion of the transaction, the director now owns 102,112 shares in the company, valued at approximately $664,749.12. The disclosure for this sale can be found here. Insiders sold 57,847 shares of company stock worth $359,859 in the last quarter. 5.24% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GNMK. Morgan Stanley boosted its holdings in GenMark Diagnostics by 434.0% in the second quarter. Morgan Stanley now owns 1,824,449 shares of the medical equipment provider’s stock worth $11,841,000 after acquiring an additional 1,482,787 shares in the last quarter. Cadian Capital Management LP boosted its holdings in GenMark Diagnostics by 9.5% in the second quarter. Cadian Capital Management LP now owns 5,640,748 shares of the medical equipment provider’s stock worth $36,608,000 after acquiring an additional 488,739 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in GenMark Diagnostics in the second quarter worth about $2,700,000. Essex Investment Management Co. LLC acquired a new stake in GenMark Diagnostics in the third quarter worth about $1,737,000. Finally, Renaissance Technologies LLC boosted its holdings in GenMark Diagnostics by 156.6% in the second quarter. Renaissance Technologies LLC now owns 339,100 shares of the medical equipment provider’s stock worth $2,201,000 after acquiring an additional 206,965 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.
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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