Teachers Advisors LLC cut its position in shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,775 shares of the medical equipment provider’s stock after selling 2,309 shares during the quarter. Teachers Advisors LLC owned about 0.20% of GenMark Diagnostics worth $1,287,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of GenMark Diagnostics by 15.8% during the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock valued at $48,476,000 after purchasing an additional 559,629 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of GenMark Diagnostics by 62,991.5% during the second quarter. Federated Investors Inc. PA now owns 200,000 shares of the medical equipment provider’s stock valued at $2,366,000 after purchasing an additional 199,683 shares in the last quarter. Marshall Wace North America L.P. boosted its position in shares of GenMark Diagnostics by 1,787.6% during the second quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock valued at $6,528,000 after purchasing an additional 515,200 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of GenMark Diagnostics during the first quarter valued at approximately $435,000. Finally, Bank of New York Mellon Corp boosted its position in shares of GenMark Diagnostics by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 223,163 shares of the medical equipment provider’s stock valued at $2,641,000 after purchasing an additional 18,235 shares in the last quarter.
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GenMark Diagnostics, Inc. (GNMK) opened at 7.58 on Monday. GenMark Diagnostics, Inc. has a one year low of $7.51 and a one year high of $13.67. The company’s market capitalization is $414.38 million. The stock’s 50 day moving average price is $9.03 and its 200-day moving average price is $11.11.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative net margin of 111.96% and a negative return on equity of 109.89%. The business had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $12.44 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. GenMark Diagnostics’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that GenMark Diagnostics, Inc. will post ($1.07) EPS for the current year.
Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of GenMark Diagnostics in a research report on Wednesday, October 4th. BidaskClub downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Bank of America Corporation started coverage on GenMark Diagnostics in a report on Monday, September 18th. They issued a “buy” rating and a $13.00 target price on the stock. Cowen and Company reissued an “outperform” rating and issued a $17.00 target price on shares of GenMark Diagnostics in a report on Wednesday, August 2nd. Finally, Canaccord Genuity reissued a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. GenMark Diagnostics currently has an average rating of “Buy” and a consensus target price of $14.40.
In other GenMark Diagnostics news, SVP Jennifer Anne Williams sold 38,681 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.08, for a total transaction of $351,223.48. Following the completion of the sale, the senior vice president now directly owns 155,889 shares in the company, valued at approximately $1,415,472.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hany Massarany sold 8,311 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $9.45, for a total value of $78,538.95. Following the transaction, the insider now owns 372,797 shares in the company, valued at $3,522,931.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,736 shares of company stock valued at $544,341. 7.50% of the stock is owned by company insiders.
GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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