GenMark Diagnostics (NASDAQ:GNMK) released its earnings results on Tuesday, April 30th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), Morningstar.com reports. GenMark Diagnostics had a negative return on equity of 137.04% and a negative net margin of 71.40%. The business had revenue of $21.53 million during the quarter, compared to analysts’ expectations of $21.08 million. GenMark Diagnostics updated its FY 2019 guidance to EPS.
GNMK stock remained flat at $$6.67 during trading on Friday. The company had a trading volume of 92,272 shares, compared to its average volume of 351,463. The stock has a market capitalization of $380.38 million, a PE ratio of -7.33 and a beta of 1.55. GenMark Diagnostics has a 52 week low of $3.58 and a 52 week high of $8.81. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.40 and a current ratio of 3.93.
A number of brokerages recently weighed in on GNMK. Zacks Investment Research raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $10.00 price target on shares of GenMark Diagnostics in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. GenMark Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $9.67.
In other news, CEO Hany Massarany sold 54,596 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $6.79, for a total value of $370,706.84. Following the sale, the chief executive officer now directly owns 849,404 shares of the company’s stock, valued at $5,767,453.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Gleeson sold 10,000 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $8.00, for a total value of $80,000.00. Following the completion of the sale, the senior vice president now directly owns 363,101 shares in the company, valued at $2,904,808. The disclosure for this sale can be found here. Insiders sold 142,965 shares of company stock valued at $1,022,780 over the last 90 days. Company insiders own 5.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of GenMark Diagnostics by 123.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,466 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 2,466 shares during the last quarter. Ameritas Investment Corp acquired a new position in shares of GenMark Diagnostics in the 1st quarter valued at $43,000. BNP Paribas Arbitrage SA lifted its stake in shares of GenMark Diagnostics by 56,694.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,791 shares of the medical equipment provider’s stock valued at $77,000 after purchasing an additional 10,772 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of GenMark Diagnostics by 48.6% in the 4th quarter. Legal & General Group Plc now owns 11,308 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of GenMark Diagnostics in the 4th quarter valued at $84,000. 91.76% of the stock is currently owned by institutional investors.
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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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