Needham slashes price target on GenMark Diagnostics Inc. [GNMK] – find out why.

GenMark Diagnostics Inc. [NASDAQ: GNMK] gained 33.16% or 5.59 points to close at $22.45 with a heavy trading volume of 7779245 shares. The company report on February 12, 2021 that GenMark Diagnostics to Report Fourth Quarter and Full Year 2020 Financial Results on February 25, 2021.

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GenMark Diagnostics, Inc. (NASDAQ: GNMK) announced that it plans to release its fourth quarter and full year earnings results after market close on Thursday, February 25, 2021. Management will hold a conference call to review the company’s financial performance starting at 4:30 p.m. ET on the same day. The conference call will be concurrently webcast.

The link to the webcast will be available on the GenMark Diagnostics, Inc. website at www.genmarkdx.com under the investor relations section and will be archived for future reference. To listen to the conference call, please dial (877) 312-5847 (US/Canada) or (253) 237-1154 (International) and use the conference ID number 6957136 approximately five minutes prior to the start time.

It opened the trading session at $19.27, the shares rose to $23.49 and dropped to $19.10, the range by which the price of stock traded the whole day. The daily chart for GNMK points out that the company has recorded 44.47% gains over the past six months. However, it is still -568.15% lower than its most recent low trading price.

If we look at the average trading volume of 842.99K shares, GNMK reached to a volume of 7779245 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $20.60 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 1.54, with the Price to Sales ratio for GNMK stock in the period of the last 12 months amounting to 10.75. The Price to Book ratio for the last quarter was 17.01, with the Price to Cash per share for the same quarter was set at 1.93.

Trading performance analysis for GNMK stock

GenMark Diagnostics Inc. [GNMK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 54.19. With this latest performance, GNMK shares gained by 54.30% in over the last four-week period, additionally plugging by 44.47% over the last 6 months – not to mention a rise of 397.78% 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 82.93, with the RSI for the last a single of trading hit 89.54, and the three-weeks RSI is set at 77.65 for GenMark Diagnostics Inc. [GNMK]. The present Moving Average for the last 50 days of trading for this stock 14.69, while it was recorded at 17.14 for the last single week of trading, and 13.76 for the last 200 days.

GenMark Diagnostics Inc. [GNMK]: A deeper dive into fundamental analysis

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 3.80 and a Current Ratio set at 4.30.

GenMark Diagnostics Inc. [GNMK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, GenMark Diagnostics Inc. posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -6.30%. 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.

An analysis of insider ownership at GenMark Diagnostics Inc. [GNMK]

There are presently around $1,576 million, or 99.40% of GNMK stock, in the hands of institutional investors. The top three institutional holders of GNMK stocks are: FMR LLC with ownership of 10,758,659, which is approximately 0.919% of the company’s market cap and around 3.60% of the total institutional ownership; BLACKROCK INC., holding 5,623,577 shares of the stock with an approximate value of $126.25 million in GNMK stocks shares; and CONSONANCE CAPITAL MANAGEMENT LP, currently with $118.98 million in GNMK stock with ownership of nearly -23.129% of the company’s market capitalization.

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Positions in GenMark Diagnostics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 83 institutional holders increased their position in GenMark Diagnostics Inc. [NASDAQ:GNMK] by around 11,161,820 shares. Additionally, 80 investors decreased positions by around 9,298,739 shares, while 21 investors held positions by with 49,736,842 shares. The mentioned changes placed institutional holdings at 70,197,401 shares, according to the latest SEC report filing. GNMK stock had 31 new institutional investments in for a total of 3,609,701 shares, while 25 institutional investors sold positions of 1,357,504 shares during the same period.

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