-$0.16 EPS Expected for GenMark Diagnostics, Inc (GNMK) This Quarter

Wall Street brokerages forecast that GenMark Diagnostics, Inc (NASDAQ:GNMK) will announce ($0.16) earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for GenMark Diagnostics’ earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.18). GenMark Diagnostics posted earnings per share of ($0.26) during the same quarter last year, which suggests a positive year over year growth rate of 38.5%. The company is expected to issue its next quarterly earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that GenMark Diagnostics will report full-year earnings of ($0.86) per share for the current financial year, with EPS estimates ranging from ($0.88) to ($0.84). For the next year, analysts anticipate that the business will post earnings of ($0.65) per share, with EPS estimates ranging from ($0.71) to ($0.60). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow GenMark Diagnostics.

GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Monday, October 29th. The medical equipment provider reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $15.80 million during the quarter, compared to analysts’ expectations of $15.76 million. GenMark Diagnostics had a negative return on equity of 95.36% and a negative net margin of 79.33%.

Several research analysts recently commented on the company. Zacks Investment Research raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. ValuEngine upgraded GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. BidaskClub upgraded GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Canaccord Genuity dropped their price objective on GenMark Diagnostics from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of GenMark Diagnostics in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.33.

In other GenMark Diagnostics news, insider Hany Massarany sold 6,010 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $7.39, for a total transaction of $44,413.90. Following the completion of the transaction, the insider now directly owns 688,694 shares in the company, valued at $5,089,448.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 21,673 shares of company stock valued at $149,484 over the last quarter. Corporate insiders own 7.09% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC raised its stake in GenMark Diagnostics by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 40,896 shares of the medical equipment provider’s stock worth $301,000 after acquiring an additional 14,546 shares in the last quarter. JPMorgan Chase & Co. raised its stake in GenMark Diagnostics by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 4,414,814 shares of the medical equipment provider’s stock worth $32,448,000 after acquiring an additional 36,100 shares in the last quarter. Bellevue Group AG raised its stake in GenMark Diagnostics by 12.9% during the third quarter. Bellevue Group AG now owns 1,339,502 shares of the medical equipment provider’s stock worth $9,845,000 after acquiring an additional 153,000 shares in the last quarter. Virtu Financial LLC acquired a new position in GenMark Diagnostics during the third quarter worth $179,000. Finally, FMR LLC raised its stake in GenMark Diagnostics by 0.6% during the third quarter. FMR LLC now owns 8,362,958 shares of the medical equipment provider’s stock worth $61,468,000 after acquiring an additional 51,098 shares in the last quarter. Hedge funds and other institutional investors own 98.81% of the company’s stock.

GNMK stock traded up $0.01 during midday trading on Monday, hitting $5.00. The stock had a trading volume of 399,100 shares, compared to its average volume of 344,897. The stock has a market cap of $279.78 million, a P/E ratio of -4.14 and a beta of 1.26. GenMark Diagnostics has a 52 week low of $3.98 and a 52 week high of $8.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.75 and a quick ratio of 3.10.

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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