GenMark Diagnostics (GNMK) Stock Price Up -3.9%

GenMark Diagnostics, Inc (NASDAQ:GNMK) shares rose 3.9% during mid-day trading on Thursday . The stock traded as high as $6.51 and last traded at $6.20. Approximately 191,800 shares traded hands during trading, a decline of 51% from the average daily volume of 393,723 shares. The stock had previously closed at $6.45.

GNMK has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of GenMark Diagnostics in a research report on Friday, January 19th. BTIG Research set a $11.00 price target on shares of GenMark Diagnostics and gave the stock a “buy” rating in a research report on Tuesday, January 16th. BidaskClub upgraded shares of GenMark Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. Canaccord Genuity reduced their price target on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Zacks Investment Research upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.60.

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The stock has a market capitalization of $303.66, a PE ratio of -5.35 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.04 and a current ratio of 3.44.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Tuesday, February 27th. The medical equipment provider reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). GenMark Diagnostics had a negative net margin of 117.77% and a negative return on equity of 91.14%. The company had revenue of $16.02 million for the quarter, compared to the consensus estimate of $15.82 million. equities research analysts expect that GenMark Diagnostics, Inc will post -0.76 earnings per share for the current year.

In other GenMark Diagnostics news, SVP Eric Stier sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $5.46, for a total transaction of $54,600.00. Following the transaction, the senior vice president now directly owns 197,502 shares in the company, valued at approximately $1,078,360.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott Mendel sold 6,275 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $4.17, for a total transaction of $26,166.75. Following the transaction, the chief financial officer now owns 246,161 shares in the company, valued at $1,026,491.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,164 shares of company stock worth $272,557. Corporate insiders own 7.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Penn Capital Management Co. Inc. lifted its position in GenMark Diagnostics by 56.4% during the 4th quarter. Penn Capital Management Co. Inc. now owns 543,715 shares of the medical equipment provider’s stock valued at $2,267,000 after purchasing an additional 196,150 shares during the period. Geode Capital Management LLC raised its position in shares of GenMark Diagnostics by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 508,997 shares of the medical equipment provider’s stock valued at $2,122,000 after acquiring an additional 48,320 shares during the period. Two Sigma Investments LP raised its position in shares of GenMark Diagnostics by 2,266.9% in the 4th quarter. Two Sigma Investments LP now owns 435,887 shares of the medical equipment provider’s stock valued at $1,818,000 after acquiring an additional 417,471 shares during the period. Bank of New York Mellon Corp raised its position in shares of GenMark Diagnostics by 10.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 246,960 shares of the medical equipment provider’s stock valued at $2,379,000 after acquiring an additional 23,797 shares during the period. Finally, Granite Investment Partners LLC raised its position in shares of GenMark Diagnostics by 153.6% in the 4th quarter. Granite Investment Partners LLC now owns 215,760 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 130,677 shares during the period.

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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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