GenMark Diagnostics Inc. (GNMK) – Don’t Be So Quick to Call it Dead

GenMark Diagnostics Inc. (NASDAQ: GNMK) is 240.96% higher on its value in year-to-date trading and has touched a low of $3.36 and a high of $20.88 in the current 52-week trading range. The GNMK stock was last observed hovering at around $19.06 in the last trading session, with the day’s loss setting it -2.66% off its average median price target of $22.00 for the next 12 months. It is also 28.7% off the consensus price target high of $23.00 offered by 7 analysts, but current levels are 13.68% higher than the price target low of $19.00 for the same period.

Currently trading at $16.40, the stock is -8.41% and 13.57% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.41 million and changing -13.96% at the moment leaves the stock 99.55% off its SMA200. GNMK registered 146.99% gain for a year compared to 6-month gain of 210.02%. The firm has a 50-day simple moving average (SMA 50) of $8.92% and a 200-day simple moving average (SMA200) of $5.5M.

The stock witnessed a -13.04% loss in the last 1 month and extending the period to 3 months gives it a 27.73%, and is -8.48% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.05% over the week and 7.43% over the month.

GenMark Diagnostics Inc. (GNMK) has around 437 employees, a market worth around $1.15B and $105.20M in sales. Profit margin for the company is -40.20%. Distance from 52-week low is 388.10% and -21.46% from its 52-week high. The company has generated returns on investments over the last 12 months (-51.50%).

GenMark Diagnostics Inc. (GNMK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for GenMark Diagnostics Inc. (GNMK) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 1.90, where 2 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

GenMark Diagnostics Inc. is expected to release its quarterly report on 10/29/2020 and quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $34.04M over the same period.The EPS is expected to grow by 9.40% this year, but quarterly earnings will post 79.20% year-over-year. Quarterly sales are estimated to grow 62.70% in year-over-year returns.

GenMark Diagnostics Inc. (GNMK) Top Institutional Holders

165 institutions hold shares in GenMark Diagnostics Inc. (GNMK), with 3.34M shares held by insiders accounting for 4.70% while institutional investors hold 96.32% of the company’s shares. The shares outstanding are 60.67M, and float is at 58.17M with Short Float at 10.77%. Institutions hold 91.80% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 9.12 million shares valued at $37.56 million. The investor’s holdings represent 14.73% of the GNMK Shares outstanding. As of Mar 30, 2020, the second largest holder is Morgan Stanley with 4.59 million shares valued at $18.92 million to account for 7.42% of the shares outstanding. The other top investors are Blackrock Inc. which holds 4.27 million shares representing 6.91% and valued at over $17.61 million, while Cadian Capital Management, LLC holds 5.64% of the shares totaling 3.49 million with a market value of $14.37 million.

GenMark Diagnostics Inc. (GNMK) Insider Activity

A total of 83 insider transactions have happened at GenMark Diagnostics Inc. (GNMK) in the last six months, with sales accounting for 55 and purchases happening 28 times. The most recent transaction is an insider sale by O’Brien Scott Alexander, the company’s SVP, Global Mktg & Int’l Sales. SEC filings show that O’Brien Scott Alexander sold 208 shares of the company’s common stock on Aug 04 at a price of $18.93 per share for a total of $3937.0. Following the sale, the insider now owns 0.18 million shares.

GenMark Diagnostics Inc. disclosed in a document filed with the SEC on Aug 04 that Mitchell Brian Andrew (SVP, Operations) sold a total of 621 shares of the company’s common stock. The trade occurred on Aug 04 and was made at $18.93 per share for $11756.0. Following the transaction, the insider now directly holds 0.23 million shares of the GNMK stock.

Still, SEC filings show that on Aug 03, Mitchell Brian Andrew (SVP, Operations) disposed off 4,000 shares at an average price of $17.92 for $71680.0. The insider now directly holds 226,808 shares of GenMark Diagnostics Inc. (GNMK).

GenMark Diagnostics Inc. (GNMK): Who are the competitors?

The company’s main competitors (and peers) include Hologic Inc. (HOLX) that is trading 42.64% up over the past 12 months. QIAGEN N.V. (QGEN) is 28.98% up on the 1-year trading charts.