$15.73 Million in Sales Expected for GenMark Diagnostics, Inc (GNMK) This Quarter

Equities research analysts predict that GenMark Diagnostics, Inc (NASDAQ:GNMK) will report sales of $15.73 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for GenMark Diagnostics’ earnings, with the lowest sales estimate coming in at $15.44 million and the highest estimate coming in at $16.02 million. GenMark Diagnostics reported sales of $14.89 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The company is expected to issue its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that GenMark Diagnostics will report full year sales of $15.73 million for the current year, with estimates ranging from $51.20 million to $52.52 million. For the next financial year, analysts forecast that the firm will report sales of $69.65 million per share, with estimates ranging from $67.27 million to $71.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover GenMark Diagnostics.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The firm had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. During the same period in the prior year, the company earned ($0.27) EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year.

Several research analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of GenMark Diagnostics in a research note on Wednesday, October 4th. Canaccord Genuity reissued a “buy” rating and set a $14.00 target price on shares of GenMark Diagnostics in a research note on Monday, October 30th. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Cowen reissued a “buy” rating and set a $10.00 target price on shares of GenMark Diagnostics in a research note on Friday, November 3rd. Finally, BTIG Research set a $11.00 target price on GenMark Diagnostics and gave the stock a “buy” rating in a research note on Monday, November 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.80.

GenMark Diagnostics (NASDAQ:GNMK) traded up $0.05 on Friday, reaching $4.71. 230,700 shares of the company traded hands, compared to its average volume of 513,817. GenMark Diagnostics has a 1-year low of $3.63 and a 1-year high of $13.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.97 and a quick ratio of 2.77. The company has a market capitalization of $255.35, a PE ratio of -3.86 and a beta of 0.65.

In other news, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $4.74, for a total value of $39,114.48. Following the completion of the transaction, the insider now owns 362,957 shares of the company’s stock, valued at $1,720,416.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Kagnoff acquired 20,000 shares of the stock in a transaction dated Monday, November 6th. The stock was purchased at an average cost of $4.13 per share, with a total value of $82,600.00. Following the purchase, the director now directly owns 64,413 shares of the company’s stock, valued at $266,025.69. The disclosure for this purchase can be found here. Insiders sold 18,407 shares of company stock valued at $92,878 in the last ninety days. 7.50% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of GenMark Diagnostics by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 4,396,940 shares of the medical equipment provider’s stock valued at $41,288,000 after buying an additional 299,173 shares during the period. Vanguard Group Inc. increased its position in GenMark Diagnostics by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,169,476 shares of the medical equipment provider’s stock valued at $25,664,000 after purchasing an additional 212,795 shares during the period. State Street Corp increased its position in GenMark Diagnostics by 9.4% during the 2nd quarter. State Street Corp now owns 888,727 shares of the medical equipment provider’s stock valued at $10,515,000 after purchasing an additional 76,010 shares during the period. Northpointe Capital LLC increased its position in GenMark Diagnostics by 24.4% during the 3rd quarter. Northpointe Capital LLC now owns 1,552,740 shares of the medical equipment provider’s stock valued at $14,953,000 after purchasing an additional 304,232 shares during the period. Finally, Bank of New York Mellon Corp increased its position in GenMark Diagnostics by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,163 shares of the medical equipment provider’s stock valued at $2,641,000 after purchasing an additional 18,235 shares during the period.

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GenMark Diagnostics Company Profile

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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