Granite Investment Partners LLC grew its stake in shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) by 27.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,423 shares of the medical equipment provider’s stock after buying an additional 37,926 shares during the period. Granite Investment Partners LLC’s holdings in GenMark Diagnostics were worth $1,244,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in GNMK. Legal & General Group Plc increased its position in GenMark Diagnostics by 48.6% during the fourth quarter. Legal & General Group Plc now owns 11,308 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 3,700 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of GenMark Diagnostics by 56,694.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,791 shares of the medical equipment provider’s stock valued at $77,000 after purchasing an additional 10,772 shares during the period. Paloma Partners Management Co purchased a new stake in shares of GenMark Diagnostics in the fourth quarter valued at $80,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of GenMark Diagnostics in the fourth quarter valued at $84,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in GenMark Diagnostics by 365.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,530 shares of the medical equipment provider’s stock valued at $90,000 after acquiring an additional 14,546 shares during the last quarter. 91.07% of the stock is owned by institutional investors.
GNMK has been the topic of a number of research analyst reports. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of GenMark Diagnostics in a research note on Friday, February 22nd. BidaskClub upgraded GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $10.00 price objective on shares of GenMark Diagnostics in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. GenMark Diagnostics currently has a consensus rating of “Buy” and a consensus price target of $9.67.
In related news, SVP Michael Gleeson sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $8.00, for a total value of $80,000.00. Following the completion of the sale, the senior vice president now directly owns 363,101 shares of the company’s stock, valued at $2,904,808. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Hany Massarany sold 6,247 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $6.62, for a total value of $41,355.14. Following the completion of the sale, the insider now directly owns 835,320 shares of the company’s stock, valued at $5,529,818.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,847 shares of company stock valued at $395,743. 5.24% of the stock is owned by corporate insiders.
GenMark Diagnostics stock traded up $0.12 during midday trading on Wednesday, hitting $7.04. The stock had a trading volume of 4,842 shares, compared to its average volume of 337,876. The company has a quick ratio of 3.40, a current ratio of 3.93 and a debt-to-equity ratio of 1.96. The firm has a market cap of $391.80 million, a P/E ratio of -7.73 and a beta of 1.47. GenMark Diagnostics, Inc has a 12 month low of $3.58 and a 12 month high of $8.81.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings data on Tuesday, April 30th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $21.53 million during the quarter, compared to the consensus estimate of $21.08 million. GenMark Diagnostics had a negative net margin of 71.40% and a negative return on equity of 137.04%. As a group, equities research analysts anticipate that GenMark Diagnostics, Inc will post -0.81 earnings per share for the current year.
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GenMark Diagnostics Company Profile
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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