Analysts Expect GenMark Diagnostics, Inc (NASDAQ:GNMK) Will Announce Earnings of -$0.16 Per Share

Brokerages predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will post earnings of ($0.16) per share for the current quarter, according to Zacks. Four analysts have made estimates for GenMark Diagnostics’ earnings, with estimates ranging from ($0.18) to ($0.15). GenMark Diagnostics reported earnings of ($0.21) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.8%. The firm is expected to report its next quarterly earnings report on Thursday, February 20th.

On average, analysts expect that GenMark Diagnostics will report full-year earnings of ($0.82) per share for the current year, with EPS estimates ranging from ($0.84) to ($0.80). For the next fiscal year, analysts expect that the firm will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.60) to ($0.42). Zacks’ EPS averages are a mean average based on a survey of research analysts that cover GenMark Diagnostics.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The company had revenue of $20.92 million during the quarter, compared to the consensus estimate of $20.66 million. GenMark Diagnostics had a negative return on equity of 239.16% and a negative net margin of 60.63%.

A number of research firms recently commented on GNMK. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Finally, ValuEngine upgraded GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.67.

Shares of GenMark Diagnostics stock opened at $5.64 on Friday. The company has a debt-to-equity ratio of 6.40, a quick ratio of 2.11 and a current ratio of 2.69. GenMark Diagnostics has a 1 year low of $3.58 and a 1 year high of $8.37. The firm’s 50-day simple moving average is $5.65 and its 200-day simple moving average is $6.14. The firm has a market cap of $327.57 million, a PE ratio of -6.20 and a beta of 1.17.

In other GenMark Diagnostics news, COO Scott Mendel sold 5,206 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.43, for a total value of $28,268.58. Following the transaction, the chief operating officer now owns 330,663 shares of the company’s stock, valued at $1,795,500.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hany Massarany sold 7,744 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $5.55, for a total transaction of $42,979.20. Following the completion of the transaction, the chief executive officer now directly owns 792,468 shares in the company, valued at approximately $4,398,197.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,268 shares of company stock worth $272,529. Corporate insiders own 5.24% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley lifted its stake 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 valued at $11,841,000 after buying an additional 1,482,787 shares during the last quarter. Cadian Capital Management LP grew its holdings in GenMark Diagnostics by 9.5% in 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 bought a new position in GenMark Diagnostics in the 2nd quarter worth approximately $2,700,000. State of New Jersey Common Pension Fund D bought a new position in GenMark Diagnostics in the 3rd quarter worth approximately $2,165,000. Finally, Millennium Management LLC increased its position in GenMark Diagnostics by 317.8% in the 3rd quarter. Millennium Management LLC now owns 447,721 shares of the medical equipment provider’s stock valued at $2,713,000 after acquiring an additional 340,566 shares during the period. Institutional investors and hedge funds own 90.92% 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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Earnings History and Estimates for GenMark Diagnostics (NASDAQ:GNMK)

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