GenMark Diagnostics, Inc. (NASDAQ:GNMK)‘s stock had its “market perform” rating reiterated by research analysts at Raymond James Financial, Inc. in a research report issued on Friday.

Several other research firms have also commented on GNMK. BidaskClub upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Monday, August 7th. Cowen and Company reiterated an “outperform” rating and issued a $17.00 price objective on shares of GenMark Diagnostics in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. Finally, BTIG Research restated a “buy” rating and set a $13.00 price target on shares of GenMark Diagnostics in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.60.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.05). The firm had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $12.44 million. GenMark Diagnostics had a negative net margin of 111.96% and a negative return on equity of 109.89%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS.

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In other GenMark Diagnostics news, insider Hany Massarany sold 8,311 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $9.45, for a total value of $78,538.95. Following the completion of the transaction, the insider now directly owns 372,797 shares of the company’s stock, valued at approximately $3,522,931.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jennifer Anne Williams sold 38,681 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $9.08, for a total transaction of $351,223.48. Following the completion of the transaction, the senior vice president now directly owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,636 shares of company stock valued at $522,648. 7.50% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in GNMK. Bank of New York Mellon Corp boosted its holdings in GenMark Diagnostics by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 204,928 shares of the medical equipment provider’s stock valued at $2,627,000 after purchasing an additional 6,482 shares during the period. Ameriprise Financial Inc. bought a new position in GenMark Diagnostics in the 1st quarter valued at $435,000. American International Group Inc. boosted its holdings in GenMark Diagnostics by 7.8% in the 1st quarter. American International Group Inc. now owns 24,885 shares of the medical equipment provider’s stock valued at $319,000 after purchasing an additional 1,802 shares during the period. Teachers Advisors LLC boosted its holdings in GenMark Diagnostics by 13.1% in the 1st quarter. Teachers Advisors LLC now owns 111,084 shares of the medical equipment provider’s stock valued at $1,424,000 after purchasing an additional 12,864 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in GenMark Diagnostics by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 1,956,681 shares of the medical equipment provider’s stock valued at $25,084,000 after purchasing an additional 58,691 shares during the period.

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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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