Northern Trust Corp Raises Position in GenMark Diagnostics, Inc. (GNMK)
Northern Trust Corp raised its stake in GenMark Diagnostics, Inc. (NASDAQ:GNMK) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 630,760 shares of the medical equipment provider’s stock after buying an additional 52,984 shares during the quarter. Northern Trust Corp owned approximately 1.15% of GenMark Diagnostics worth $7,462,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in GenMark Diagnostics by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 240 shares in the last quarter. Quantitative Systematic Strategies LLC grew its holdings in GenMark Diagnostics by 18.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock valued at $159,000 after buying an additional 2,047 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in GenMark Diagnostics in the 2nd quarter valued at $277,000. American International Group Inc. grew its holdings in GenMark Diagnostics by 7.8% in the 1st quarter. American International Group Inc. now owns 24,885 shares of the medical equipment provider’s stock valued at $319,000 after buying an additional 1,802 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in GenMark Diagnostics in the 2nd quarter valued at $371,000.
GenMark Diagnostics, Inc. (NASDAQ:GNMK) opened at $4.93 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97. GenMark Diagnostics, Inc. has a twelve month low of $3.63 and a twelve month high of $13.67.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $11.60 million for the quarter, compared to analysts’ expectations of $14.56 million. GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.27) earnings per share. analysts predict that GenMark Diagnostics, Inc. will post -1.17 earnings per share for the current fiscal year.
Several brokerages have issued reports on GNMK. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Cowen and Company restated a “buy” rating and issued a $10.00 target price on shares of GenMark Diagnostics in a report on Friday, November 3rd. Raymond James Financial, Inc. restated a “market perform” rating on shares of GenMark Diagnostics in a report on Friday, November 3rd. Needham & Company LLC dropped their target price on GenMark Diagnostics from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Canaccord Genuity restated a “buy” rating and issued a $14.00 target price on shares of GenMark Diagnostics in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. GenMark Diagnostics presently has a consensus rating of “Hold” and an average price target of $12.20.
In other GenMark Diagnostics news, Director Michael Kagnoff purchased 20,000 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $82,600.00. Following the acquisition, the director now owns 64,413 shares in the company, valued at approximately $266,025.69. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jennifer Anne Williams sold 38,681 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $9.08, for a total value of $351,223.48. Following the transaction, the senior vice president now owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,917 shares of company stock valued at $539,162. Company insiders own 7.50% of the company’s stock.
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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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