Insider Selling: GenMark Diagnostics, Inc. (GNMK) SVP Sells 38,681 Shares of Stock
GenMark Diagnostics, Inc. (NASDAQ:GNMK) SVP Jennifer Anne Williams sold 38,681 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $9.08, for a total value of $351,223.48. Following the transaction, the senior vice president now owns 155,889 shares in the company, valued at $1,415,472.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
GenMark Diagnostics, Inc. (NASDAQ GNMK) traded down 2.94% during trading on Friday, hitting $8.92. 1,126,429 shares of the stock were exchanged. The firm’s 50-day moving average is $9.94 and its 200 day moving average is $11.89. GenMark Diagnostics, Inc. has a 52 week low of $8.88 and a 52 week high of $13.67. The firm’s market cap is $487.63 million.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The firm had revenue of $12.36 million during the quarter, compared to the consensus estimate of $12.44 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter 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 fiscal year.
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GNMK has been the topic of several analyst reports. Needham & Company LLC upped their price objective on GenMark Diagnostics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, June 13th. BidaskClub downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $17.00 price objective on shares of GenMark Diagnostics in a report on Monday, June 12th. BTIG Research reaffirmed a “buy” rating and set a $13.00 price objective on shares of GenMark Diagnostics in a report on Thursday, August 31st. Finally, ValuEngine raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.60.
Several hedge funds have recently made changes to their positions in GNMK. Teachers Advisors LLC lifted its stake in shares of GenMark Diagnostics by 6.1% during the 4th quarter. Teachers Advisors LLC now owns 98,220 shares of the medical equipment provider’s stock valued at $1,202,000 after buying an additional 5,652 shares in the last quarter. Nationwide Fund Advisors increased its holdings in GenMark Diagnostics by 3.9% during the 1st quarter. Nationwide Fund Advisors now owns 25,936 shares of the medical equipment provider’s stock worth $332,000 after acquiring an additional 981 shares during the period. Bank of New York Mellon Corp increased its holdings in GenMark Diagnostics by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 204,928 shares of the medical equipment provider’s stock worth $2,627,000 after acquiring an additional 6,482 shares during the period. TD Asset Management Inc. increased its holdings in GenMark Diagnostics by 3.1% during the 1st quarter. TD Asset Management Inc. now owns 102,074 shares of the medical equipment provider’s stock worth $1,309,000 after acquiring an additional 3,074 shares during the period. Finally, Ameriprise Financial Inc. bought a new stake in GenMark Diagnostics during the 1st quarter worth approximately $435,000.
GenMark Diagnostics Company Profile
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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