GenMark Diagnostics, Inc. (GNMK) Director Purchases $22,875.00 in Stock
GenMark Diagnostics, Inc. (NASDAQ:GNMK) Director Michael Kagnoff bought 2,500 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average price of $9.15 per share, with a total value of $22,875.00. Following the purchase, the director now directly owns 44,413 shares in the company, valued at $406,378.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of GenMark Diagnostics, Inc. (NASDAQ GNMK) traded up 0.32% during trading on Monday, reaching $9.43. The company had a trading volume of 990,170 shares. The firm has a 50-day moving average of $10.29 and a 200 day moving average of $11.98. GenMark Diagnostics, Inc. has a 1-year low of $8.03 and a 1-year high of $13.67. The firm’s market capitalization is $515.51 million.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.05. GenMark Diagnostics had a negative net margin of 111.96% and a negative return on equity of 109.89%. The company had revenue of $12.36 million during the quarter, compared to analyst estimates of $12.44 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The business’s revenue was down 1.2% on a year-over-year basis. Analysts expect that GenMark Diagnostics, Inc. will post ($1.06) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in GenMark Diagnostics by 2.1% in the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 240 shares in the last quarter. Rhumbline Advisers boosted its stake in GenMark Diagnostics by 0.8% in the second quarter. Rhumbline Advisers now owns 48,445 shares of the medical equipment provider’s stock valued at $573,000 after acquiring an additional 408 shares in the last quarter. Nationwide Fund Advisors boosted its stake in GenMark Diagnostics by 3.9% in the first quarter. Nationwide Fund Advisors now owns 25,936 shares of the medical equipment provider’s stock valued at $332,000 after acquiring an additional 981 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in GenMark Diagnostics by 0.8% in the second quarter. TIAA CREF Investment Management LLC now owns 168,888 shares of the medical equipment provider’s stock valued at $1,998,000 after acquiring an additional 1,268 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in GenMark Diagnostics by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 36,023 shares of the medical equipment provider’s stock valued at $426,000 after acquiring an additional 1,410 shares in the last quarter.
A number of brokerages recently issued reports on GNMK. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Needham & Company LLC raised their target price on GenMark Diagnostics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, June 13th. ValuEngine upgraded GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company restated an “outperform” rating and issued a $17.00 target price on shares of GenMark Diagnostics in a research note on Wednesday, August 2nd. Finally, BTIG Research restated a “buy” rating and issued a $17.00 target price on shares of GenMark Diagnostics in a research note on Wednesday, May 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.00.
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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