Granite Investment Partners LLC increased its position in GenMark Diagnostics, Inc (NASDAQ:GNMK) by 11.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,905 shares of the medical equipment provider’s stock after acquiring an additional 11,280 shares during the period. Granite Investment Partners LLC owned about 0.20% of GenMark Diagnostics worth $823,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new position in GenMark Diagnostics in the 2nd quarter worth approximately $115,000. Dynamic Technology Lab Private Ltd purchased a new stake in GenMark Diagnostics during the 2nd quarter valued at $152,000. Fox Run Management L.L.C. purchased a new stake in GenMark Diagnostics during the 2nd quarter valued at $168,000. Engineers Gate Manager LP purchased a new stake in GenMark Diagnostics during the 3rd quarter valued at $213,000. Finally, Donaldson Capital Management LLC raised its stake in 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 during the last quarter. Institutional investors own 98.81% of the company’s stock.
In other 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 transaction of $44,413.48. Following the completion of the sale, the chief executive officer now owns 682,491 shares of the company’s stock, valued at approximately $4,886,635.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 11,974 shares of company stock valued at $77,808. Insiders own 7.09% of the company’s stock.
GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Monday, October 29th. The medical equipment provider reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $15.80 million during the quarter, compared to analyst estimates of $15.76 million. GenMark Diagnostics had a negative net margin of 79.33% and a negative return on equity of 95.36%. Equities analysts forecast that GenMark Diagnostics, Inc will post -0.86 EPS for the current year.
GNMK has been the subject of a number of research reports. BidaskClub lowered shares of GenMark Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of GenMark Diagnostics in a research note on Tuesday, July 31st. Canaccord Genuity boosted their target price on shares of GenMark Diagnostics from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. ValuEngine upgraded shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. GenMark Diagnostics has a consensus rating of “Hold” and an average target price of $10.33.
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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