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

GenMark Diagnostics Inc. (NASDAQ: GNMK) is 172.77% 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 $15.04 in the last trading session, with the day’s loss setting it -1.92% off its average median price target of $22.00 for the next 12 months. It is also 42.96% off the consensus price target high of $23.00 offered by 7 analysts, but current levels are 30.95% higher than the price target low of $19.00 for the same period.

Currently trading at $13.12, the stock is -19.38% and -18.62% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.32 million and changing -12.77% at the moment leaves the stock 46.60% off its SMA200. GNMK registered 117.58% gain for a year compared to 6-month gain of 275.93%. The firm has a 50-day simple moving average (SMA 50) of $16.94 and a 200-day simple moving average (SMA200) of $10.56.

The stock witnessed a -23.23% loss in the last 1 month and extending the period to 3 months gives it a 38.25%, and is -17.07% 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 7.85% over the week and 7.70% over the month.

GenMark Diagnostics Inc. (GNMK) has around 437 employees, a market worth around $963.53M and $126.90M in sales. Profit margin for the company is -26.50%. Distance from 52-week low is 290.48% and -37.16% 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 -$0.07 with sales reaching $38.05M over the same period. The EPS is expected to grow by 9.40% this year, but quarterly earnings will post 85.70% year-over-year. Quarterly sales are estimated to grow 81.90% 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 66.53M, and float is at 55.28M with Short Float at 10.62%. Institutions hold 91.80% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 10.45 million shares valued at $153.74 million. The investor’s holdings represent 14.71% of the GNMK Shares outstanding. As of Jun 29, 2020, the second largest holder is Consonance Capital Management LP with 6.89 million shares valued at $101.42 million to account for 9.70% of the shares outstanding. The other top investors are Blackrock Inc. which holds 5.41 million shares representing 7.61% and valued at over $79.54 million, while Redmile Group, LLC holds 6.90% of the shares totaling 4.9 million with a market value of $72.13 million.

GenMark Diagnostics Inc. (GNMK) Insider Activity

A total of 66 insider transactions have happened at GenMark Diagnostics Inc. (GNMK) in the last six months, with sales accounting for 55 and purchases happening 11 times. The most recent transaction is an insider sale by Mitchell Brian Andrew, the company’s SVP, Operations. SEC filings show that Mitchell Brian Andrew sold 3,464 shares of the company’s common stock on Aug 26 at a price of $14.74 per share for a total of $51059.0. Following the sale, the insider now owns 0.17 million shares.

GenMark Diagnostics Inc. disclosed in a document filed with the SEC on Aug 25 that O’Brien Scott Alexander (SVP, Global Mktg & Int’l Sales) sold a total of 1,223 shares of the company’s common stock. The trade occurred on Aug 25 and was made at $14.14 per share for $17293.0. Following the transaction, the insider now directly holds 0.14 million shares of the GNMK stock.

Still, SEC filings show that on Aug 25, Gleeson Michael (SVP, Corp. Accounts) disposed off 2,904 shares at an average price of $14.14 for $41063.0. The insider now directly holds 352,040 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 27.02% up over the past 12 months. QIAGEN N.V. (QGEN) is 47.03% up on the 1-year trading charts. Short interest in the company’s stock has fallen -4.86% from the last report on Jul 14, 2020 to stand at a total of 6.26 million short shares sold with a short interest ratio of 5.33.