GenMark Diagnostics, Inc. (GNMK) Set to Announce Quarterly Earnings on Wednesday
GenMark Diagnostics, Inc. (NASDAQ:GNMK) is set to announce its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of ($0.26) per share for the quarter.
GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative net margin of 111.96% and a negative return on equity of 109.89%. The company had revenue of $12.36 million for the quarter, compared to the consensus estimate of $12.44 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect GenMark Diagnostics to post $-1.06 EPS for the current fiscal year and $-0.62 EPS for the next fiscal year.
Shares of GenMark Diagnostics, Inc. (NASDAQ GNMK) opened at 7.39 on Tuesday. The company’s market capitalization is $403.99 million. GenMark Diagnostics, Inc. has a 12 month low of $7.30 and a 12 month high of $13.67. The firm’s 50-day moving average is $8.98 and its 200 day moving average is $11.05.
GNMK has been the subject of a number of research analyst reports. BidaskClub lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective (down from $17.00) on shares of GenMark Diagnostics in a report on Wednesday, September 13th. Bank of America Corporation initiated coverage on shares of GenMark Diagnostics in a report on Monday, September 18th. They set a “buy” rating and a $13.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $13.00 price objective on shares of GenMark Diagnostics in a report on Thursday, August 31st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $17.00 price objective on shares of GenMark Diagnostics in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.40.
In other news, SVP Eric Stier sold 2,750 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $9.60, for a total transaction of $26,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jennifer Anne Williams sold 38,681 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $9.08, for a total value of $351,223.48. Following the transaction, the senior vice president now owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The disclosure for this sale can be found here. Insiders have sold a total of 58,736 shares of company stock valued at $544,341 over the last quarter. Corporate insiders own 7.50% of the company’s stock.
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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