Analysts Anticipate GenMark Diagnostics, Inc. (GNMK) Will Post Quarterly Sales of $14.81 Million
Equities research analysts expect that GenMark Diagnostics, Inc. (NASDAQ:GNMK) will announce $14.81 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for GenMark Diagnostics’ earnings, with the lowest sales estimate coming in at $14.00 million and the highest estimate coming in at $15.62 million. GenMark Diagnostics reported sales of $10.81 million during the same quarter last year, which would suggest a positive year over year growth rate of 37%. The firm is expected to announce its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that GenMark Diagnostics will report full-year sales of $14.81 million for the current financial year, with estimates ranging from $64.58 million to $68.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $97.00 million per share, with estimates ranging from $94.53 million to $99.10 million. Zacks’ sales averages are an average based on a survey of research firms that cover GenMark Diagnostics.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.05. The company had revenue of $12.36 million for the quarter, compared to analyst estimates of $12.44 million. GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted ($0.30) EPS.
Several equities analysts have weighed in on GNMK shares. BidaskClub downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target (up previously from $15.00) on shares of GenMark Diagnostics in a research report on Wednesday, May 3rd. BTIG Research reissued a “buy” rating and set a $17.00 price target on shares of GenMark Diagnostics in a research report on Wednesday, May 17th. Zacks Investment Research downgraded GenMark Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. GenMark Diagnostics has a consensus rating of “Buy” and a consensus target price of $16.40.
In other news, CFO Scott Mendel sold 2,135 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $12.89, for a total transaction of $27,520.15. Following the sale, the chief financial officer now owns 143,079 shares in the company, valued at $1,844,288.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hany Massarany sold 8,239 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $12.89, for a total value of $106,200.71. The disclosure for this sale can be found here. Insiders have sold 16,015 shares of company stock valued at $201,742 in the last three months. 7.50% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. boosted its stake in GenMark Diagnostics by 1,787.6% in the second quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock valued at $6,528,000 after buying an additional 515,200 shares during the period. Jennison Associates LLC boosted its stake in GenMark Diagnostics by 14.3% in the second quarter. Jennison Associates LLC now owns 3,541,747 shares of the medical equipment provider’s stock valued at $41,899,000 after buying an additional 443,005 shares during the period. Citadel Advisors LLC boosted its stake in GenMark Diagnostics by 105.7% in the first quarter. Citadel Advisors LLC now owns 783,765 shares of the medical equipment provider’s stock valued at $10,048,000 after buying an additional 402,832 shares during the period. Bellevue Group AG acquired a new stake in GenMark Diagnostics during the first quarter valued at about $4,008,000. Finally, Northpointe Capital LLC boosted its stake in GenMark Diagnostics by 25.4% in the first quarter. Northpointe Capital LLC now owns 1,077,196 shares of the medical equipment provider’s stock valued at $13,810,000 after buying an additional 217,847 shares during the period. Institutional investors and hedge funds own 90.61% of the company’s stock.
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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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