Alliancebernstein L.P. continued to hold its stake in shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,100 shares of the medical equipment provider’s stock at the end of the 2nd quarter. Alliancebernstein L.P. owned 0.10% of GenMark Diagnostics worth $628,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GNMK. Legal & General Group Plc lifted its stake in GenMark Diagnostics by 2.1% in the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 240 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its stake in GenMark Diagnostics by 18.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock worth $159,000 after purchasing an additional 2,047 shares during the last quarter. American International Group Inc. lifted its stake in GenMark Diagnostics by 7.8% in the first quarter. American International Group Inc. now owns 24,885 shares of the medical equipment provider’s stock worth $319,000 after purchasing an additional 1,802 shares during the last quarter. Trexquant Investment LP bought a new stake in GenMark Diagnostics in the second quarter worth about $371,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in GenMark Diagnostics in the first quarter worth about $375,000.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The company had revenue of $12.36 million during the quarter, compared to analyst estimates of $12.44 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year.
In other news, CFO Scott Mendel sold 2,898 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $9.45, for a total value of $27,386.10. Following the transaction, the chief financial officer now directly owns 138,096 shares in the company, valued at approximately $1,305,007.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hany Massarany sold 8,311 shares of the company’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 transaction of $78,538.95. Following the completion of 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 90 days, insiders sold 56,636 shares of company stock worth $522,648. Company insiders own 7.50% of the company’s stock.
Several analysts have issued reports on the stock. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price objective on shares of GenMark Diagnostics in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of GenMark Diagnostics in a research note on Thursday, October 19th. Bank of America Corporation began coverage on shares of GenMark Diagnostics in a research report on Monday, September 18th. They set a “buy” rating and a $13.00 target price on the stock. BTIG Research reaffirmed a “buy” rating and set a $13.00 target price on shares of GenMark Diagnostics in a research report on Thursday, August 31st. Finally, BidaskClub lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $14.40.
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GenMark Diagnostics 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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