GenMark Diagnostics, Inc (NASDAQ:GNMK) Director Michael Kagnoff purchased 10,000 shares of GenMark Diagnostics stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average price of $4.22 per share, for a total transaction of $42,200.00. Following the transaction, the director now directly owns 74,413 shares of the company’s stock, valued at $314,022.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of GenMark Diagnostics, Inc (NASDAQ GNMK) traded down $0.16 during midday trading on Wednesday, hitting $5.32. 163,323 shares of the stock traded hands, compared to its average volume of 389,287. The company has a market capitalization of $291.51, a P/E ratio of -4.36 and a beta of 0.99. GenMark Diagnostics, Inc has a 52-week low of $3.63 and a 52-week high of $13.67. The company has a current ratio of 3.44, a quick ratio of 3.04 and a debt-to-equity ratio of 0.29.
GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Tuesday, February 27th. The medical equipment provider reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The firm had revenue of $16.02 million for the quarter, compared to the consensus estimate of $15.82 million. GenMark Diagnostics had a negative net margin of 117.77% and a negative return on equity of 91.14%. equities research analysts forecast that GenMark Diagnostics, Inc will post -0.78 earnings per share for the current year.
A number of equities research analysts have weighed in on the stock. BidaskClub upgraded shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Canaccord Genuity cut their price objective on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of GenMark Diagnostics in a report on Friday, January 19th. Finally, BTIG Research set a $11.00 price objective on shares of GenMark Diagnostics and gave the stock a “buy” rating in a report on Tuesday, January 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.60.
Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of GenMark Diagnostics by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 36,023 shares of the medical equipment provider’s stock worth $426,000 after buying an additional 1,410 shares in the last quarter. Voya Investment Management LLC lifted its position in GenMark Diagnostics by 17.5% during the second quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock valued at $233,000 after purchasing an additional 2,943 shares during the period. Goldman Sachs Group Inc. lifted its position in GenMark Diagnostics by 4.5% during the second quarter. Goldman Sachs Group Inc. now owns 68,972 shares of the medical equipment provider’s stock valued at $816,000 after purchasing an additional 2,945 shares during the period. Ameriprise Financial Inc. lifted its position in GenMark Diagnostics by 27.1% during the second quarter. Ameriprise Financial Inc. now owns 43,141 shares of the medical equipment provider’s stock valued at $510,000 after purchasing an additional 9,196 shares during the period. Finally, Teachers Advisors LLC lifted its position in GenMark Diagnostics by 11.3% during the fourth quarter. Teachers Advisors LLC now owns 125,245 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 12,713 shares during the period.
About GenMark Diagnostics
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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