Schwab Charles Investment Management Inc. lifted its position in shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) by 18.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 274,850 shares of the medical equipment provider’s stock after buying an additional 42,122 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in GenMark Diagnostics were worth $1,754,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Penn Capital Management Co. Inc. lifted its stake in shares of GenMark Diagnostics by 8.0% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 455,077 shares of the medical equipment provider’s stock valued at $2,903,000 after buying an additional 33,644 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of GenMark Diagnostics by 10.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 172,512 shares of the medical equipment provider’s stock valued at $1,100,000 after buying an additional 16,611 shares in the last quarter. A.R.T. Advisors LLC lifted its stake in shares of GenMark Diagnostics by 159.4% during the 1st quarter. A.R.T. Advisors LLC now owns 130,214 shares of the medical equipment provider’s stock valued at $708,000 after buying an additional 80,024 shares in the last quarter. Bradley Foster & Sargent Inc. CT purchased a new position in shares of GenMark Diagnostics during the 2nd quarter valued at $651,000. Finally, Donaldson Capital Management LLC lifted its stake in shares of GenMark Diagnostics by 22.2% during the 2nd quarter. Donaldson Capital Management LLC now owns 83,003 shares of the medical equipment provider’s stock valued at $530,000 after buying an additional 15,075 shares in the last quarter. Institutional investors own 99.46% of the company’s stock.
Shares of GNMK stock opened at $6.14 on Friday. The firm has a market capitalization of $409.79 million, a price-to-earnings ratio of -5.21 and a beta of 0.91. GenMark Diagnostics, Inc has a 52 week low of $3.63 and a 52 week high of $9.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.80 and a current ratio of 2.04.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Monday, July 30th. The medical equipment provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.09). The company had revenue of $14.94 million during the quarter, compared to analysts’ expectations of $14.74 million. GenMark Diagnostics had a negative return on equity of 87.96% and a negative net margin of 91.58%. As a group, equities analysts expect that GenMark Diagnostics, Inc will post -0.85 earnings per share for the current fiscal year.
Several analysts have commented on the stock. BidaskClub cut shares of GenMark Diagnostics from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Canaccord Genuity boosted their price target on shares of GenMark Diagnostics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, June 29th. Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of GenMark Diagnostics in a research note on Tuesday, July 31st. Finally, ValuEngine upgraded shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.50.
In other GenMark Diagnostics news, CEO Hany Massarany sold 6,203 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $7.16, for a total value of $44,413.48. Following the sale, the chief executive officer now owns 682,491 shares in the company, valued at approximately $4,886,635.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 20,230 shares of company stock worth $147,242. Corporate insiders own 7.09% 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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