GenMark Diagnostics, Inc. (GNMK) Issues Earnings Results, Misses Estimates By $0.02 EPS
GenMark Diagnostics, Inc. (NASDAQ:GNMK) posted its earnings results on Thursday. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02), Briefing.com reports. The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 113.51%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.27) earnings per share.
GenMark Diagnostics (NASDAQ GNMK) traded down $3.04 on Friday, reaching $4.26. 7,007,583 shares of the company’s stock were exchanged, compared to its average volume of 359,599. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.60 and a quick ratio of 3.39.
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In other GenMark Diagnostics news, SVP Jennifer Anne Williams sold 38,681 shares of GenMark Diagnostics stock in a transaction on Friday, September 15th. The shares were sold at an average price of $9.08, for a total value of $351,223.48. Following the completion of the transaction, the senior vice president now owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Stier sold 2,750 shares of GenMark Diagnostics stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $9.60, for a total transaction of $26,400.00. The disclosure for this sale can be found here. Insiders sold 58,917 shares of company stock valued at $539,162 in the last ninety days. 7.50% of the stock is owned by corporate insiders.
A number of research analysts recently issued reports on GNMK shares. BidaskClub downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Cowen and Company restated an “outperform” rating and set a $17.00 target price on shares of GenMark Diagnostics in a research report on Wednesday, August 2nd. Canaccord Genuity restated a “buy” rating and set a $14.00 target price (down from $17.00) on shares of GenMark Diagnostics in a research report on Monday, August 7th. BTIG Research restated a “buy” rating and set a $13.00 target price on shares of GenMark Diagnostics in a research report on Thursday, August 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price (down from $17.00) on shares of GenMark Diagnostics in a research report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $12.20.
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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