GenMark Diagnostics, Inc. (NASDAQ:GNMK) – Equities research analysts at William Blair lowered their FY2017 EPS estimates for GenMark Diagnostics in a research note issued to investors on Tuesday. William Blair analyst B. Weinstein now forecasts that the medical equipment provider will post earnings per share of ($1.12) for the year, down from their previous forecast of ($1.00). William Blair also issued estimates for GenMark Diagnostics’ FY2018 earnings at ($0.56) EPS.

A number of other research firms also recently weighed in on GNMK. BidaskClub downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of GenMark Diagnostics in a research note on Wednesday, May 3rd. BTIG Research reissued a “buy” rating and issued a $17.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, May 17th. Zacks Investment Research downgraded GenMark Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, ValuEngine raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. GenMark Diagnostics has a consensus rating of “Buy” and an average target price of $16.40.

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GenMark Diagnostics (NASDAQ GNMK) opened at 11.04 on Thursday. The company has a 50 day moving average price of $11.92 and a 200-day moving average price of $12.31. GenMark Diagnostics has a one year low of $8.03 and a one year high of $13.67. The firm’s market capitalization is $603.52 million.

GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.05. The company had revenue of $12.36 million during the quarter, compared to analyst estimates of $12.44 million. GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) earnings per share.

In related news, CFO Scott Mendel sold 2,135 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $12.89, for a total transaction of $27,520.15. Following the sale, the chief financial officer now owns 143,079 shares of the company’s stock, valued at approximately $1,844,288.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hany Massarany sold 8,239 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $12.89, for a total value of $106,200.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,015 shares of company stock worth $201,742 in the last ninety days. 7.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in shares of GenMark Diagnostics by 1.4% in the first quarter. FMR LLC now owns 7,057,680 shares of the medical equipment provider’s stock valued at $90,480,000 after buying an additional 97,034 shares during the last quarter. Jennison Associates LLC increased its stake in shares of GenMark Diagnostics by 14.3% in the second quarter. Jennison Associates LLC now owns 3,541,747 shares of the medical equipment provider’s stock valued at $41,899,000 after buying an additional 443,005 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of GenMark Diagnostics by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 3,538,138 shares of the medical equipment provider’s stock valued at $45,359,000 after buying an additional 170,977 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of GenMark Diagnostics by 3.1% in the first quarter. Vanguard Group Inc. now owns 1,956,681 shares of the medical equipment provider’s stock valued at $25,084,000 after buying an additional 58,691 shares during the last quarter. Finally, Northpointe Capital LLC increased its stake in shares of GenMark Diagnostics by 15.9% in the second quarter. Northpointe Capital LLC now owns 1,248,508 shares of the medical equipment provider’s stock valued at $14,770,000 after buying an additional 171,312 shares during the last quarter. 92.58% of the stock is currently owned by institutional investors and hedge funds.

About GenMark Diagnostics

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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