GenMark Diagnostics (NASDAQ:GNMK) Stock Rating Upgraded by BidaskClub

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GenMark Diagnostics (NASDAQ:GNMK) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, BidAskClub reports.

Several other equities research analysts also recently commented on GNMK. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Canaccord Genuity reiterated a “buy” rating and set a $10.00 target price on shares of GenMark Diagnostics in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. GenMark Diagnostics has an average rating of “Hold” and a consensus target price of $9.67.

NASDAQ:GNMK opened at $5.74 on Friday. The firm’s 50 day simple moving average is $5.87 and its 200 day simple moving average is $6.54. The company has a debt-to-equity ratio of 3.69, a current ratio of 3.39 and a quick ratio of 2.83. GenMark Diagnostics has a one year low of $3.58 and a one year high of $8.37. The company has a market cap of $321.09 million, a PE ratio of -6.30 and a beta of 1.24.

GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Monday, August 5th. The medical equipment provider reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). GenMark Diagnostics had a negative return on equity of 167.54% and a negative net margin of 63.86%. The business had revenue of $18.37 million for the quarter, compared to analyst estimates of $17.92 million. Equities research analysts expect that GenMark Diagnostics will post -0.8 EPS for the current year.

In other news, Director Kevin C. Oboyle sold 18,350 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.51, for a total value of $119,458.50. Following the transaction, the director now owns 102,112 shares in the company, valued at approximately $664,749.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hany Massarany sold 16,659 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $6.03, for a total transaction of $100,453.77. Following the completion of the transaction, the chief executive officer now owns 800,212 shares in the company, valued at approximately $4,825,278.36. The disclosure for this sale can be found here. Insiders sold a total of 57,847 shares of company stock worth $359,859 in the last 90 days. Corporate insiders own 5.24% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of GNMK. Bank of Montreal Can lifted its position in shares of GenMark Diagnostics by 145.4% in the 2nd quarter. Bank of Montreal Can now owns 7,687 shares of the medical equipment provider’s stock worth $50,000 after purchasing an additional 4,554 shares during the period. SG Americas Securities LLC acquired a new position in shares of GenMark Diagnostics in the 2nd quarter worth approximately $79,000. Susquehanna International Group LLP acquired a new position in shares of GenMark Diagnostics in the 2nd quarter worth approximately $131,000. Prudential Financial Inc. acquired a new position in shares of GenMark Diagnostics in the 2nd quarter worth approximately $141,000. Finally, ETF Managers Group LLC acquired a new position in shares of GenMark Diagnostics in the 2nd quarter worth approximately $169,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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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