According to Zacks, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California. “
Other equities research analysts have also issued reports about the stock. Canaccord Genuity reiterated a buy rating and set a $10.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, May 1st. Needham & Company LLC reiterated a buy rating and set a $12.00 price target on shares of GenMark Diagnostics in a research note on Friday, February 22nd. Finally, BidaskClub downgraded shares of GenMark Diagnostics from a buy rating to a hold rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. GenMark Diagnostics has a consensus rating of Hold and a consensus price target of $9.67.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Tuesday, April 30th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). GenMark Diagnostics had a negative return on equity of 137.04% and a negative net margin of 71.40%. The company had revenue of $21.53 million for the quarter, compared to analyst estimates of $21.08 million. Equities analysts expect that GenMark Diagnostics will post -0.81 EPS for the current fiscal year.
In other GenMark Diagnostics news, CEO Hany Massarany sold 54,596 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $6.79, for a total transaction of $370,706.84. Following the transaction, the chief executive officer now directly owns 849,404 shares of the company’s stock, valued at approximately $5,767,453.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Frederick Ek sold 5,205 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $6.79, for a total transaction of $35,341.95. Following the transaction, the chief financial officer now directly owns 178,458 shares in the company, valued at $1,211,729.82. The disclosure for this sale can be found here. Insiders have sold a total of 130,260 shares of company stock worth $935,988 over the last three months. 5.24% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of GNMK. BlackRock Inc. boosted its holdings in shares of GenMark Diagnostics by 7.5% in the third quarter. BlackRock Inc. now owns 3,609,795 shares of the medical equipment provider’s stock valued at $26,532,000 after acquiring an additional 251,078 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of GenMark Diagnostics by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 4,414,814 shares of the medical equipment provider’s stock valued at $32,448,000 after acquiring an additional 36,100 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in shares of GenMark Diagnostics by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 40,896 shares of the medical equipment provider’s stock valued at $301,000 after acquiring an additional 14,546 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of GenMark Diagnostics by 1.4% in the third quarter. Vanguard Group Inc. now owns 2,613,213 shares of the medical equipment provider’s stock valued at $19,207,000 after acquiring an additional 34,940 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in shares of GenMark Diagnostics by 1.4% in the third quarter. Vanguard Group Inc now owns 2,613,213 shares of the medical equipment provider’s stock valued at $19,207,000 after acquiring an additional 34,940 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.
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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