GenMark Diagnostics, Inc (GNMK) Expected to Post Quarterly Sales of $15.82 Million

Analysts expect GenMark Diagnostics, Inc (NASDAQ:GNMK) to post sales of $15.82 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for GenMark Diagnostics’ earnings. The lowest sales estimate is $15.44 million and the highest is $16.02 million. GenMark Diagnostics reported sales of $14.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that GenMark Diagnostics will report full year sales of $15.82 million for the current year, with estimates ranging from $51.20 million to $52.52 million. For the next financial year, analysts forecast that the firm will report sales of $69.57 million per share, with estimates ranging from $67.27 million to $71.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover GenMark Diagnostics.

GNMK has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of GenMark Diagnostics in a research note on Thursday, October 19th. Canaccord Genuity restated a “buy” rating and set a $14.00 price objective on shares of GenMark Diagnostics in a research note on Monday, October 30th. Raymond James Financial restated a “market perform” rating on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Cowen restated a “buy” rating and set a $10.00 price objective on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Finally, Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.80.

Shares of GenMark Diagnostics (NASDAQ GNMK) opened at $5.15 on Monday. The company has a quick ratio of 2.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.12. GenMark Diagnostics has a 12 month low of $3.63 and a 12 month high of $13.67.

In other news, insider Hany Massarany sold 8,252 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $4.74, for a total transaction of $39,114.48. Following the completion of the transaction, the insider now directly owns 362,957 shares of the company’s stock, valued at approximately $1,720,416.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 20,126 shares of company stock valued at $96,564. Insiders own 7.50% of the company’s stock.

Several large investors have recently bought and sold shares of GNMK. FMR LLC increased its holdings in shares of GenMark Diagnostics by 13.6% during the 2nd 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 in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of GenMark Diagnostics by 52.7% during the 3rd 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 in the last quarter. Northpointe Capital LLC increased its holdings in shares of GenMark Diagnostics by 24.4% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of GenMark Diagnostics by 7.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,396,940 shares of the medical equipment provider’s stock valued at $41,288,000 after purchasing an additional 299,173 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of GenMark Diagnostics by 576.4% during the 2nd quarter. Wells Fargo & Company MN now owns 302,808 shares of the medical equipment provider’s stock valued at $3,582,000 after purchasing an additional 258,040 shares in the last quarter.

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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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