GenMark Diagnostics Inc. [NASDAQ: GNMK] stock went on a downward path that fall over -2.39% on Tuesday, amounting to a one-week price decrease of less than -20.94%. The company report on August 4, 2020 that GenMark Diagnostics Reports Second Quarter 2020 Results.
GenMark Diagnostics, Inc. (Nasdaq: GNMK), a leading provider of automated, multiplex molecular diagnostic testing systems, today announced financial results for the quarter ended June 30, 2020.
Second Quarter 2020 Highlights.
Over the last 12 months, GNMK stock rose by 132.31%. The one-year GenMark Diagnostics Inc. stock forecast points to a potential upside of 29.44. The average equity rating for GNMK stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.09 billion, with 71.07 million shares outstanding and 66.86 million shares in the current float. Compared to the average trading volume of 1.89M shares, GNMK stock reached a trading volume of 1491436 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on GenMark Diagnostics Inc. [GNMK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GNMK shares is $21.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GNMK stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for GenMark Diagnostics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 05, 2020. While these analysts kept the previous recommendation, Needham raised their target price from $15 to $19. The new note on the price target was released on July 08, 2020, representing the official price target for GenMark Diagnostics Inc. stock. Previously, the target price had yet another raise from $11 to $15, while Needham kept a Buy rating on GNMK stock.
The Average True Range (ATR) for GenMark Diagnostics Inc. is set at 1.33, with the Price to Sales ratio for GNMK stock in the period of the last 12 months amounting to 8.57. The Price to Book ratio for the last quarter was 11.10, with the Price to Cash per share for the same quarter was set at 1.84.
GNMK Stock Performance Analysis:
GenMark Diagnostics Inc. [GNMK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.94. With this latest performance, GNMK shares dropped by -10.86% in over the last four-week period, additionally plugging by 240.86% over the last 6 months – not to mention a rise of 132.31% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GNMK stock in for the last two-week period is set at 42.12, with the RSI for the last a single of trading hit 31.62, and the three-weeks RSI is set at 46.35 for GenMark Diagnostics Inc. [GNMK]. The present Moving Average for the last 50 days of trading for this stock 14.93, while it was recorded at 16.44 for the last single week of trading, and 8.42 for the last 200 days.
Insight into GenMark Diagnostics Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and GenMark Diagnostics Inc. [GNMK] shares currently have an operating margin of -47.50 and a Gross Margin at +32.50. GenMark Diagnostics Inc.’s Net Margin is presently recorded at -53.79.
Return on Total Capital for GNMK is now -52.75, given the latest momentum, and Return on Invested Capital for the company is -60.44. Return on Equity for this stock declined to -207.18, with Return on Assets sitting at -46.32. When it comes to the capital structure of this company, GenMark Diagnostics Inc. [GNMK] has a Total Debt to Total Equity ratio set at 631.28. Additionally, GNMK Total Debt to Total Capital is recorded at 86.33, with Total Debt to Total Assets ending up at 68.88. Long-Term Debt to Equity for the company is recorded at 616.14, with the Long-Term Debt to Total Capital now at 84.25.
Reflecting on the efficiency of the workforce at the company, GenMark Diagnostics Inc. [GNMK] managed to generate an average of -$108,352 per employee. Receivables Turnover for the company is 6.22 with a Total Asset Turnover recorded at a value of 0.86.GenMark Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.70.
GNMK Stock EPS
With the latest financial reports released by the company, GenMark Diagnostics Inc. posted -0.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GNMK.
GenMark Diagnostics Inc. [GNMK] Insider Position Details
There are presently around $766 million, or 75.00% of GNMK stock, in the hands of institutional investors. The top three institutional holders of GNMK stocks are: FMR LLC with ownership of 9,116,380, which is approximately 4.677% of the company’s market cap and around 4.60% of the total institutional ownership; MORGAN STANLEY, holding 4,591,855 shares of the stock with an approximate value of $69.34 million in GNMK stocks shares; and BLACKROCK INC., currently with $64.54 million in GNMK stock with ownership of nearly -0.363% of the company’s market capitalization.
Positions in GenMark Diagnostics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 63 institutional holders increased their position in GenMark Diagnostics Inc. [NASDAQ:GNMK] by around 5,498,652 shares. Additionally, 68 investors decreased positions by around 10,455,395 shares, while 15 investors held positions by with 34,772,785 shares. The mentioned changes placed institutional holdings at 50,726,832 shares, according to the latest SEC report filing. GNMK stock had 29 new institutional investments in for a total of 2,907,055 shares, while 24 institutional investors sold positions of 3,508,430 shares during the same period.