$15.73 Million in Sales Expected for GenMark Diagnostics, Inc (GNMK) This Quarter

Wall Street analysts predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will post sales of $15.73 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for GenMark Diagnostics’ earnings, with the lowest sales estimate coming in at $15.44 million and the highest estimate coming in at $16.02 million. GenMark Diagnostics reported sales of $14.89 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The firm is scheduled to report its next earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that GenMark Diagnostics will report full-year sales of $15.73 million for the current financial year, with estimates ranging from $51.20 million to $52.52 million. For the next year, analysts expect that the firm will post sales of $69.65 million per share, with estimates ranging from $67.27 million to $71.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover GenMark Diagnostics.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm 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 100.33%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.27) EPS.

GNMK has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of GenMark Diagnostics in a report on Wednesday, October 4th. Canaccord Genuity restated a “buy” rating and set a $14.00 price target on shares of GenMark Diagnostics in a report on Monday, October 30th. Raymond James Financial restated a “market perform” rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, BidaskClub cut GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. GenMark Diagnostics currently has a consensus rating of “Hold” and an average price target of $11.80.

In other news, Director Michael Kagnoff bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $4.13 per share, for a total transaction of $82,600.00. Following the acquisition, the director now directly owns 64,413 shares in the company, valued at $266,025.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hany Massarany sold 8,252 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 362,957 shares in the company, valued at $1,720,416.18. The disclosure for this sale can be found here. Insiders have sold a total of 18,407 shares of company stock worth $92,878 over the last 90 days. Company insiders own 7.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GNMK. Rhumbline Advisers lifted its holdings in shares of GenMark Diagnostics by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 48,445 shares of the medical equipment provider’s stock worth $573,000 after purchasing an additional 408 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of GenMark Diagnostics by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 223,163 shares of the medical equipment provider’s stock worth $2,641,000 after purchasing an additional 18,235 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of GenMark Diagnostics by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 240 shares in the last quarter. Swiss National Bank lifted its holdings in shares of GenMark Diagnostics by 37.3% in the 2nd quarter. Swiss National Bank now owns 89,000 shares of the medical equipment provider’s stock worth $1,053,000 after purchasing an additional 24,200 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of GenMark Diagnostics by 576.4% in the 2nd quarter. Wells Fargo & Company MN now owns 302,808 shares of the medical equipment provider’s stock worth $3,582,000 after purchasing an additional 258,040 shares in the last quarter.

GenMark Diagnostics (NASDAQ GNMK) traded up $0.05 during trading hours on Friday, reaching $4.71. 230,700 shares of the company’s stock were exchanged, compared to its average volume of 513,817. The firm has a market cap of $255.35, a P/E ratio of -3.86 and a beta of 0.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.97 and a quick ratio of 2.77. GenMark Diagnostics has a twelve month low of $3.63 and a twelve month high of $13.67.

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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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