GenMark Diagnostics, Inc. (NASDAQ:GNMK) Expected to Announce Quarterly Sales of $12.61 Million
Wall Street analysts expect that GenMark Diagnostics, Inc. (NASDAQ:GNMK) will post $12.61 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for GenMark Diagnostics’ earnings, with estimates ranging from $12.38 million to $12.80 million. GenMark Diagnostics reported sales of $12.51 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The business is scheduled to issue its next earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that GenMark Diagnostics will report full-year sales of $12.61 million for the current year, with estimates ranging from $65.00 million to $68.10 million. For the next financial year, analysts expect that the business will post sales of $98.04 million per share, with estimates ranging from $96.38 million to $100.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Tuesday, May 2nd. The medical equipment provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by $0.02. GenMark Diagnostics had a negative return on equity of 146.00% and a negative net margin of 101.61%. The company had revenue of $12.54 million for the quarter, compared to the consensus estimate of $12.55 million.
A number of equities analysts have commented on GNMK shares. BTIG Research restated a “buy” rating and issued a $17.00 price target on shares of GenMark Diagnostics in a research report on Wednesday, May 17th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of GenMark Diagnostics in a research report on Wednesday, April 5th. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, April 11th. Canaccord Genuity reiterated a “buy” rating and set a $17.00 target price on shares of GenMark Diagnostics in a research report on Monday, June 12th. Finally, ValuEngine raised shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $15.83.
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In other news, insider Hany Massarany sold 8,239 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $12.89, for a total value of $106,200.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott Mendel sold 2,135 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $12.89, for a total transaction of $27,520.15. Following the completion of the sale, the chief financial officer now owns 143,079 shares in the company, valued at $1,844,288.31. The disclosure for this sale can be found here. Insiders sold 16,080 shares of company stock worth $208,930 over the last three months. Insiders own 7.50% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Guggenheim Capital LLC increased its stake in GenMark Diagnostics by 0.4% in the fourth quarter. Guggenheim Capital LLC now owns 10,694 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 39 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in GenMark Diagnostics during the first quarter valued at $142,000. Airain ltd bought a new stake in GenMark Diagnostics during the first quarter valued at $159,000. AQR Capital Management LLC bought a new stake in GenMark Diagnostics during the fourth quarter valued at $189,000. Finally, American International Group Inc. raised its stake in GenMark Diagnostics by 7.8% in the first quarter. American International Group Inc. now owns 24,885 shares of the medical equipment provider’s stock valued at $319,000 after buying an additional 1,802 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.
GenMark Diagnostics (NASDAQ:GNMK) opened at 11.62 on Friday. GenMark Diagnostics has a 12 month low of $8.03 and a 12 month high of $13.67. The stock’s 50 day moving average is $12.73 and its 200 day moving average is $12.38. The company’s market cap is $547.15 million.
About GenMark Diagnostics
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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