Needham & Company LLC restated their buy rating on shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) in a research note published on Wednesday. Needham & Company LLC currently has a $15.00 price objective on the medical equipment provider’s stock.

A number of other brokerages also recently commented on GNMK. BidaskClub downgraded shares of GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, July 12th. Canaccord Genuity restated a buy rating and issued a $14.00 target price (down from $17.00) on shares of GenMark Diagnostics in a research note on Monday, August 7th. Cowen and Company restated an outperform rating and issued a $17.00 target price on shares of GenMark Diagnostics in a research note on Wednesday, August 2nd. BTIG Research restated a buy rating and issued a $13.00 target price on shares of GenMark Diagnostics in a research note on Thursday, August 31st. Finally, Bank of America Corporation initiated coverage on shares of GenMark Diagnostics in a research note on Monday, September 18th. They issued a buy rating and a $13.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $14.40.

Shares of GenMark Diagnostics (GNMK) traded up 1.46% during mid-day trading on Wednesday, reaching $9.74. 231,935 shares of the company’s stock traded hands. The firm’s market capitalization is $532.46 million. GenMark Diagnostics has a 12-month low of $8.88 and a 12-month high of $13.67. The stock has a 50-day moving average price of $9.51 and a 200 day moving average price of $11.60.

GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) 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 the consensus estimate of $12.44 million. GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. GenMark Diagnostics’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) earnings per share. Analysts anticipate that GenMark Diagnostics will post ($1.07) EPS for the current fiscal year.

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In other news, CFO Scott Mendel sold 2,898 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $9.45, for a total value of $27,386.10. Following the completion of the sale, the chief financial officer now owns 138,096 shares of the company’s stock, valued at approximately $1,305,007.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Stier sold 2,750 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 58,736 shares of company stock valued at $544,341 in the last ninety days. Corporate insiders own 7.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in GNMK. BlueCrest Capital Management Ltd purchased a new stake in shares of GenMark Diagnostics in the 2nd quarter worth approximately $126,000. Legal & General Group Plc lifted its position in shares of GenMark Diagnostics by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 240 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of GenMark Diagnostics in the 2nd quarter worth approximately $137,000. Quantitative Systematic Strategies LLC lifted its position in shares of GenMark Diagnostics by 18.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock worth $159,000 after purchasing an additional 2,047 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of GenMark Diagnostics by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock worth $233,000 after purchasing an additional 2,943 shares during the period.

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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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