GenMark Diagnostics (NASDAQ:GNMK) had its target price lifted by analysts at Raymond James from $8.00 to $9.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ price objective would suggest a potential upside of 64.23% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. ValuEngine lowered shares of GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, BidaskClub lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $10.33.
Shares of GenMark Diagnostics stock traded down $0.13 on Thursday, reaching $5.48. 9,922 shares of the stock were exchanged, compared to its average volume of 216,516. The firm’s 50 day moving average is $5.80 and its 200-day moving average is $6.39. GenMark Diagnostics has a one year low of $3.58 and a one year high of $8.37. The company has a debt-to-equity ratio of 3.69, a quick ratio of 2.83 and a current ratio of 3.39. The firm has a market cap of $333.15 million, a PE ratio of -6.00 and a beta of 1.17.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $20.92 million for the quarter, compared to the consensus estimate of $20.66 million. GenMark Diagnostics had a negative return on equity of 167.54% and a negative net margin of 63.86%. On average, equities research analysts expect that GenMark Diagnostics will post -0.8 EPS for the current fiscal year.
In other GenMark Diagnostics news, Director Kevin C. Oboyle sold 18,350 shares of GenMark Diagnostics stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.51, for a total value of $119,458.50. Following the sale, the director now owns 102,112 shares of the company’s stock, valued at $664,749.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hany Massarany sold 8,080 shares of GenMark Diagnostics stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $6.25, for a total transaction of $50,500.00. Following the completion of the sale, the insider now directly owns 816,871 shares in the company, valued at approximately $5,105,443.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,815 shares of company stock worth $377,152. Insiders own 5.24% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC grew its holdings in GenMark Diagnostics by 4,380.1% in the 3rd quarter. HighTower Advisors LLC now owns 2,074,347 shares of the medical equipment provider’s stock worth $24,477,000 after buying an additional 2,028,046 shares in the last quarter. Morgan Stanley grew its holdings in GenMark Diagnostics by 434.0% during the 2nd quarter. Morgan Stanley now owns 1,824,449 shares of the medical equipment provider’s stock worth $11,841,000 after acquiring an additional 1,482,787 shares during the period. Cadian Capital Management LP grew its holdings in GenMark Diagnostics by 41.5% during the 4th quarter. Cadian Capital Management LP now owns 3,765,159 shares of the medical equipment provider’s stock worth $29,218,000 after acquiring an additional 1,104,964 shares during the period. FMR LLC grew its holdings in GenMark Diagnostics by 13.6% during the 2nd quarter. FMR LLC now owns 8,020,502 shares of the medical equipment provider’s stock worth $94,883,000 after acquiring an additional 962,822 shares during the period. Finally, Millennium Management LLC grew its holdings in GenMark Diagnostics by 1,118.6% during the 2nd quarter. Millennium Management LLC now owns 741,752 shares of the medical equipment provider’s stock worth $4,732,000 after acquiring an additional 680,882 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.
About GenMark Diagnostics
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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