GenMark Diagnostics (NASDAQ:GNMK) had its price target lowered by analysts at Canaccord Genuity from $10.00 to $8.00 in a report released on Wednesday. The firm currently has a “buy” rating on the medical equipment provider’s stock. Canaccord Genuity’s price target points to a potential upside of 94.17% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Cowen reiterated a “buy” rating and set a $10.00 target price on shares of GenMark Diagnostics in a report on Friday, November 3rd. BTIG Research set a $11.00 target price on GenMark Diagnostics and gave the company a “buy” rating in a report on Monday, November 20th. BidaskClub upgraded GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of GenMark Diagnostics in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. GenMark Diagnostics currently has a consensus rating of “Hold” and a consensus price target of $10.60.
Shares of GenMark Diagnostics (GNMK) traded down $0.73 during trading hours on Wednesday, reaching $4.12. The company’s stock had a trading volume of 1,661,531 shares, compared to its average volume of 506,593. The firm has a market cap of $248.22, a PE ratio of -3.98 and a beta of 0.78. The company has a current ratio of 2.97, a quick ratio of 2.77 and a debt-to-equity ratio of 0.12. GenMark Diagnostics has a 52-week low of $3.63 and a 52-week high of $13.67.
In other GenMark Diagnostics news, CFO Scott Mendel sold 6,275 shares of the stock in a transaction on Monday, February 26th. The stock was 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 of the company’s stock, valued at approximately $1,026,491.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hany Massarany sold 6,584 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $4.37, for a total value of $28,772.08. Following the transaction, the insider now directly owns 357,190 shares in the company, valued at approximately $1,560,920.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,322 shares of company stock worth $218,938. Corporate insiders own 7.50% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Wrapmanager Inc. lifted its stake in shares of GenMark Diagnostics by 121.3% during the 4th quarter. Wrapmanager Inc. now owns 39,547 shares of the medical equipment provider’s stock worth $165,000 after purchasing an additional 21,679 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of GenMark Diagnostics by 111.1% during the 4th quarter. UBS Asset Management Americas Inc. now owns 49,400 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 26,000 shares during the period. OLD National Bancorp IN lifted its stake in shares of GenMark Diagnostics by 120.6% during the 4th quarter. OLD National Bancorp IN now owns 49,765 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 27,208 shares during the period. Fairpointe Capital LLC purchased a new position in shares of GenMark Diagnostics during the 4th quarter worth $220,000. Finally, FDx Advisors Inc. lifted its stake in shares of GenMark Diagnostics by 124.1% during the 4th quarter. FDx Advisors Inc. now owns 53,689 shares of the medical equipment provider’s stock worth $224,000 after purchasing an additional 29,729 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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