GenMark Diagnostics, Inc (NASDAQ:GNMK) – Analysts at William Blair cut their FY2017 EPS estimates for GenMark Diagnostics in a note issued to investors on Tuesday. William Blair analyst B. Weinstein now anticipates that the medical equipment provider will earn ($1.18) per share for the year, down from their prior estimate of ($1.16). William Blair also issued estimates for GenMark Diagnostics’ FY2018 earnings at ($0.73) EPS.

A number of other brokerages also recently weighed in on GNMK. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price (down previously from $17.00) on shares of GenMark Diagnostics in a research note on Wednesday, September 13th. Bank of America initiated coverage on GenMark Diagnostics in a research note on Monday, September 18th. They issued a “buy” rating and a $13.00 target price on the stock. Canaccord Genuity restated a “buy” rating on shares of GenMark Diagnostics in a research note on Wednesday, September 27th. Raymond James Financial restated a “market perform” rating on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Finally, Cowen restated a “buy” rating and issued a $10.00 target price on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.80.

Shares of GenMark Diagnostics (NASDAQ GNMK) opened at $4.77 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97. The company has a market capitalization of $275.62, a P/E ratio of -3.88 and a beta of 0.65. GenMark Diagnostics has a twelve month low of $3.63 and a twelve month high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.27) earnings per share.

A number of institutional investors have recently bought and sold shares of GNMK. FMR LLC lifted its stake in GenMark Diagnostics by 13.6% in the second quarter. FMR LLC now owns 8,020,502 shares of the medical equipment provider’s stock valued at $94,883,000 after purchasing an additional 962,822 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in GenMark Diagnostics by 15.8% in the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after purchasing an additional 559,629 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in GenMark Diagnostics by 25.2% in the second quarter. Artisan Partners Limited Partnership now owns 2,252,831 shares of the medical equipment provider’s stock valued at $26,651,000 after purchasing an additional 453,329 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in GenMark Diagnostics by 52.7% in the third quarter. Alyeska Investment Group L.P. now owns 1,013,881 shares of the medical equipment provider’s stock valued at $9,764,000 after purchasing an additional 349,819 shares during the last quarter. Finally, Northpointe Capital LLC lifted its stake in GenMark Diagnostics by 24.4% in the third quarter. Northpointe Capital LLC now owns 1,552,740 shares of the medical equipment provider’s stock valued at $14,953,000 after purchasing an additional 304,232 shares during the last quarter.

In related news, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $4.74, for a total value of $39,114.48. Following the transaction, the insider now owns 362,957 shares in the company, valued at $1,720,416.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Kagnoff acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the purchase, the director now owns 64,413 shares of the company’s stock, valued at approximately $266,025.69. The disclosure for this purchase can be found here. Insiders sold a total of 18,407 shares of company stock worth $92,878 in the last 90 days. Company insiders own 7.50% of the company’s stock.

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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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