Needham & Company LLC reaffirmed their buy rating on shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $15.00 target price on the medical equipment provider’s stock, down from their previous target price of $17.00.

GNMK has been the subject of several other research reports. BTIG Research restated a buy rating and issued a $13.00 price target on shares of GenMark Diagnostics in a research note on Thursday, August 31st. Canaccord Genuity restated a buy rating and issued a $17.00 price target on shares of GenMark Diagnostics in a research note on Monday, June 12th. Cowen and Company restated an outperform rating and issued a $17.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, August 2nd. ValuEngine upgraded GenMark Diagnostics from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded GenMark Diagnostics from a sell rating to a hold rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. GenMark Diagnostics has a consensus rating of Hold and an average price target of $14.60.

GenMark Diagnostics (NASDAQ:GNMK) opened at 8.92 on Wednesday. The stock has a 50 day moving average price of $9.94 and a 200-day moving average price of $11.89. GenMark Diagnostics has a 1-year low of $8.88 and a 1-year high of $13.67. The company’s market cap is $487.63 million.

GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $12.44 million. During the same quarter in the previous year, the business posted ($0.30) EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that GenMark Diagnostics will post ($1.06) EPS for the current year.

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In other GenMark Diagnostics news, insider Hany Massarany sold 8,311 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $9.45, for a total transaction of $78,538.95. Following the completion of the sale, the insider now directly owns 372,797 shares in the company, valued at approximately $3,522,931.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jennifer Anne Williams sold 38,681 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.08, for a total value of $351,223.48. Following the sale, 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. Over the last quarter, insiders have sold 55,986 shares of company stock valued at $517,941. 7.50% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc increased its stake in GenMark Diagnostics by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 240 shares in the last quarter. Rhumbline Advisers increased its stake in GenMark Diagnostics by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 48,445 shares of the medical equipment provider’s stock worth $573,000 after buying an additional 408 shares in the last quarter. Nationwide Fund Advisors increased its stake in GenMark Diagnostics by 3.9% during the 1st quarter. Nationwide Fund Advisors now owns 25,936 shares of the medical equipment provider’s stock worth $332,000 after buying an additional 981 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in GenMark Diagnostics by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 168,888 shares of the medical equipment provider’s stock worth $1,998,000 after buying an additional 1,268 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in GenMark Diagnostics by 4.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,023 shares of the medical equipment provider’s stock worth $426,000 after buying an additional 1,410 shares in the last quarter.

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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