GenMark Diagnostics, Inc (GNMK) Expected to Post Earnings of -$0.19 Per Share

Wall Street analysts expect GenMark Diagnostics, Inc (NASDAQ:GNMK) to report earnings of ($0.19) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for GenMark Diagnostics’ earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at ($0.17). GenMark Diagnostics reported earnings of ($0.28) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.1%. The firm is expected to issue its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that GenMark Diagnostics will report full-year earnings of ($0.85) per share for the current year, with EPS estimates ranging from ($0.86) to ($0.84). For the next fiscal year, analysts expect that the firm will report earnings of ($0.60) per share, with EPS estimates ranging from ($0.66) to ($0.53). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow GenMark Diagnostics.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Monday, July 30th. The medical equipment provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.09). The company had revenue of $14.94 million for the quarter, compared to the consensus estimate of $14.74 million. GenMark Diagnostics had a negative net margin of 91.58% and a negative return on equity of 87.96%.

A number of research analysts have issued reports on the company. Canaccord Genuity lifted their price objective on GenMark Diagnostics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, June 29th. BidaskClub cut GenMark Diagnostics from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of GenMark Diagnostics in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.50.

In related news, CEO Hany Massarany sold 6,203 shares of GenMark Diagnostics stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $7.16, for a total value of $44,413.48. Following the completion of the transaction, the chief executive officer now directly owns 682,491 shares of the company’s stock, valued at $4,886,635.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 20,230 shares of company stock valued at $147,242 over the last ninety days. 7.09% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC bought a new position in shares of GenMark Diagnostics in the second quarter valued at about $115,000. MetLife Investment Advisors LLC bought a new position in shares of GenMark Diagnostics in the first quarter valued at about $143,000. Dynamic Technology Lab Private Ltd bought a new position in shares of GenMark Diagnostics in the second quarter valued at about $152,000. Fox Run Management L.L.C. bought a new position in shares of GenMark Diagnostics in the second quarter valued at about $168,000. Finally, Donaldson Capital Management LLC raised its holdings in shares of GenMark Diagnostics by 22.2% in the second quarter. Donaldson Capital Management LLC now owns 83,003 shares of the medical equipment provider’s stock valued at $530,000 after buying an additional 15,075 shares during the last quarter. 99.46% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ GNMK traded up $0.01 during midday trading on Thursday, reaching $6.31. 4,960 shares of the company traded hands, compared to its average volume of 314,638. The stock has a market cap of $409.79 million, a PE ratio of -5.22 and a beta of 0.91. GenMark Diagnostics has a 12 month low of $3.63 and a 12 month high of $8.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.80 and a current ratio of 2.04.

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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