BidaskClub cut shares of GenMark Diagnostics (NASDAQ:GNMK) from a buy rating to a hold rating in a research note released on Friday morning.

Other analysts have also issued research reports about the company. Canaccord Genuity dropped their target price on GenMark Diagnostics from $10.00 to $8.00 and set a buy rating on the stock in a report on Wednesday, February 28th. BTIG Research set a $11.00 target price on GenMark Diagnostics and gave the stock a buy rating in a report on Wednesday, May 2nd. Finally, Needham & Company LLC reiterated a buy rating and set a $11.00 target price on shares of GenMark Diagnostics in a report on Tuesday, April 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $10.60.

Shares of GenMark Diagnostics opened at $6.72 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $391.76 million, a PE ratio of -5.84 and a beta of 0.60. GenMark Diagnostics has a one year low of $3.63 and a one year high of $12.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.45 and a current ratio of 2.79.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Tuesday, May 1st. The medical equipment provider reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $20.65 million for the quarter, compared to analyst estimates of $17.12 million. GenMark Diagnostics had a negative return on equity of 77.35% and a negative net margin of 97.90%. analysts predict that GenMark Diagnostics will post -0.77 earnings per share for the current fiscal year.

In related news, SVP Eric Stier sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $5.46, for a total transaction of $54,600.00. Following the sale, the senior vice president now owns 197,502 shares in the company, valued at $1,078,360.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hany Massarany sold 4,168 shares of the company’s stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $6.88, for a total value of $28,675.84. Following the sale, the insider now owns 694,208 shares in the company, valued at approximately $4,776,151.04. The disclosure for this sale can be found here. Insiders have sold 63,830 shares of company stock worth $424,172 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in GenMark Diagnostics by 2.8% in the first quarter. JPMorgan Chase & Co. now owns 4,904,257 shares of the medical equipment provider’s stock valued at $26,679,000 after buying an additional 131,504 shares during the period. Bellevue Group AG raised its stake in GenMark Diagnostics by 53.4% in the first quarter. Bellevue Group AG now owns 1,186,502 shares of the medical equipment provider’s stock valued at $6,455,000 after buying an additional 412,825 shares during the period. Thrivent Financial for Lutherans raised its stake in GenMark Diagnostics by 1.3% in the first quarter. Thrivent Financial for Lutherans now owns 596,762 shares of the medical equipment provider’s stock valued at $3,246,000 after buying an additional 7,792 shares during the period. Geode Capital Management LLC raised its stake in GenMark Diagnostics by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 508,997 shares of the medical equipment provider’s stock valued at $2,122,000 after buying an additional 48,320 shares during the period. Finally, Two Sigma Investments LP raised its stake in GenMark Diagnostics by 2,266.9% in the fourth quarter. Two Sigma Investments LP now owns 435,887 shares of the medical equipment provider’s stock valued at $1,818,000 after buying an additional 417,471 shares during the period.

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.

Analyst Recommendations for GenMark Diagnostics (NASDAQ:GNMK)

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