GenMark Diagnostics (NASDAQ:GNMK) Downgraded to “Market Perform” at Raymond James

Raymond James downgraded shares of GenMark Diagnostics (NASDAQ:GNMK) from an outperform rating to a market perform rating in a report released on Tuesday morning, BenzingaRatingsTable reports.

A number of other research firms have also recently weighed in on GNMK. ValuEngine upgraded shares of GenMark Diagnostics from a sell rating to a hold rating in a research report on Thursday, December 26th. BidaskClub upgraded shares of GenMark Diagnostics from a sell rating to a hold rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut shares of GenMark Diagnostics from an overweight rating to a neutral rating and cut their price objective for the company from $11.00 to $7.00 in a research report on Wednesday, December 11th. Finally, Zacks Investment Research cut shares of GenMark Diagnostics from a hold rating to a sell rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $8.25.

GNMK stock opened at $4.35 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.11 and a debt-to-equity ratio of 6.40. GenMark Diagnostics has a twelve month low of $4.24 and a twelve month high of $8.37. The firm’s fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $5.62.

In other news, COO Scott Mendel sold 7,652 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $4.92, for a total value of $37,647.84. Following the transaction, the chief operating officer now directly owns 348,360 shares in the company, valued at $1,713,931.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hany Massarany sold 28,920 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $4.90, for a total transaction of $141,708.00. Following the completion of the transaction, the chief executive officer now owns 851,094 shares in the company, valued at $4,170,360.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,225 shares of company stock worth $445,697. Company insiders own 5.24% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of GenMark Diagnostics by 29.5% in the fourth quarter. Bank of Montreal Can now owns 10,239 shares of the medical equipment provider’s stock worth $49,000 after purchasing an additional 2,333 shares during the last quarter. Amalgamated Bank purchased a new stake in GenMark Diagnostics in the fourth quarter worth about $50,000. Citigroup Inc. lifted its stake in GenMark Diagnostics by 84.5% in the fourth quarter. Citigroup Inc. now owns 13,308 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 6,094 shares during the period. Metropolitan Life Insurance Co NY lifted its stake in GenMark Diagnostics by 15.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 18,942 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 2,602 shares during the period. Finally, Stifel Financial Corp lifted its stake in GenMark Diagnostics by 19.6% in the fourth quarter. Stifel Financial Corp now owns 25,793 shares of the medical equipment provider’s stock worth $126,000 after acquiring an additional 4,224 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.

About GenMark Diagnostics

GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.

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