GenMark Diagnostics (GNMK) Expected to Post Quarterly Sales of $14.74 Million

Brokerages forecast that GenMark Diagnostics (NASDAQ:GNMK) will report sales of $14.74 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for GenMark Diagnostics’ earnings. The lowest sales estimate is $14.10 million and the highest is $15.10 million. GenMark Diagnostics reported sales of $12.36 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that GenMark Diagnostics will report full year sales of $70.98 million for the current year, with estimates ranging from $70.50 million to $71.65 million. For the next financial year, analysts expect that the business will report sales of $86.75 million per share, with estimates ranging from $83.94 million to $90.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow GenMark Diagnostics.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Tuesday, May 1st. The medical equipment provider reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. GenMark Diagnostics had a negative net margin of 97.90% and a negative return on equity of 77.35%. The business had revenue of $20.65 million during the quarter, compared to analyst estimates of $17.12 million.



Several equities research analysts recently commented on the stock. BidaskClub downgraded shares of GenMark Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. BTIG Research set a $11.00 price target on shares of GenMark Diagnostics and gave the company a “buy” rating in a research report on Wednesday, May 2nd. Canaccord Genuity reduced their price target on shares of GenMark Diagnostics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of GenMark Diagnostics in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $10.60.

In other GenMark Diagnostics news, insider Hany Massarany sold 6,584 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $4.37, for a total value of $28,772.08. Following the completion of the sale, the insider now owns 357,190 shares in the company, valued at approximately $1,560,920.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Stier sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $5.46, for a total transaction of $54,600.00. Following the completion of the sale, the senior vice president now owns 197,502 shares of the company’s stock, valued at approximately $1,078,360.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,885 shares of company stock valued at $252,639. 7.09% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in GNMK. Bank of New York Mellon Corp lifted its position in 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 worth $2,379,000 after buying an additional 23,797 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in GenMark Diagnostics in the 3rd quarter worth approximately $707,000. Granite Investment Partners LLC lifted its position in 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 worth $900,000 after buying an additional 130,677 shares in the last quarter. Wrapmanager Inc. lifted its position in GenMark Diagnostics by 121.3% in the 4th quarter. Wrapmanager Inc. now owns 39,547 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 21,679 shares in the last quarter. Finally, OLD National Bancorp IN lifted its position in GenMark Diagnostics by 120.6% in the 4th quarter. OLD National Bancorp IN now owns 49,765 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 27,208 shares in the last quarter.

Shares of NASDAQ:GNMK traded down $0.30 during mid-day trading on Tuesday, hitting $6.97. The stock had a trading volume of 350,424 shares, compared to its average volume of 395,913. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.45 and a current ratio of 2.79. The company has a market cap of $391.77 million, a PE ratio of -5.76 and a beta of 0.55. GenMark Diagnostics has a 12-month low of $3.63 and a 12-month high of $13.67.

GenMark Diagnostics Company Profile

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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Earnings History and Estimates for GenMark Diagnostics (NASDAQ:GNMK)

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