Latest Stocks: BTIG Research Reiterates Buy Rating for GenMark Diagnostics, Inc (GNMK)

Latest Stocks: BTIG Research Reiterates Buy Rating for GenMark Diagnostics, Inc (GNMK)

BTIG Research reiterated their buy rating on shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) in a research report released on Wednesday, May 17th. The brokerage currently has a $17.00 target price on the medical equipment provider’s stock.

GNMK has been the topic of a number of other reports. Needham & Company LLC reaffirmed a buy rating and issued a $15.00 target price on shares of GenMark Diagnostics in a research report on Sunday, April 23rd. Zacks Investment Research lowered GenMark Diagnostics from a hold rating to a sell rating in a research report on Thursday, January 26th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $14.00 target price on shares of GenMark Diagnostics in a research report on Tuesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $15.17.

GenMark Diagnostics (GNMK) opened at 12.70 on Wednesday. GenMark Diagnostics has a 52 week low of $7.82 and a 52 week high of $13.67. The stock’s 50 day moving average is $12.98 and its 200 day moving average is $12.28. The company’s market capitalization is $598.00 million. GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Tuesday, May 2nd. The medical equipment provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. GenMark Diagnostics had a negative net margin of 98.17% and a negative return on equity of 114.35%. The business had revenue of $12.54 million during the quarter, compared to analyst estimates of $12.55 million. On average, equities research analysts expect that GenMark Diagnostics will post ($0.96) earnings per share for the current year.

GenMark Diagnostics (GNMK) opened at 12.70 on Wednesday. GenMark Diagnostics has a 52 week low of $7.82 and a 52 week high of $13.67. The stock’s 50 day moving average is $12.98 and its 200 day moving average is $12.28. The company’s market capitalization is $598.00 million. In related news, CFO Scott Mendel sold 2,135 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 143,079 shares in the company, valued at approximately $1,844,288.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hany Massarany sold 8,239 shares of the company’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. Over the last three months, insiders have sold 16,080 shares of company stock worth $208,930. Corporate insiders own 7.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC increased its position in shares of GenMark Diagnostics by 4,380.1% in the third quarter. HighTower Advisors LLC now owns 2,074,347 shares of the medical equipment provider’s stock worth $24,477,000 after buying an additional 2,028,046 shares during the last quarter. Morgan Stanley increased its position in shares of GenMark Diagnostics by 45.5% in the third quarter. Morgan Stanley now owns 2,829,658 shares of the medical equipment provider’s stock worth $33,390,000 after buying an additional 884,575 shares during the last quarter. FMR LLC increased its position in shares of GenMark Diagnostics by 7.9% in the fourth quarter. FMR LLC now owns 6,960,646 shares of the medical equipment provider’s stock worth $85,198,000 after buying an additional 511,563 shares during the last quarter. Citadel Advisors LLC increased its position in shares of GenMark Diagnostics by 105.7% in the first quarter. Citadel Advisors LLC now owns 783,765 shares of the medical equipment provider’s stock worth $10,048,000 after buying an additional 402,832 shares during the last quarter. Finally, Bellevue Group AG bought a new position in shares of GenMark Diagnostics during the first quarter worth approximately $4,008,000. About GenMark Diagnostics

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