ClariVest Asset Management LLC Sells 1,300 Shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK)

ClariVest Asset Management LLC reduced its holdings in shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,700 shares of the medical equipment provider’s stock after selling 1,300 shares during the quarter. ClariVest Asset Management LLC’s holdings in GenMark Diagnostics were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. FMR LLC lifted its holdings in shares of GenMark Diagnostics by 14.6% in the second quarter. FMR LLC now owns 10,451,263 shares of the medical equipment provider’s stock valued at $153,738,000 after purchasing an additional 1,334,883 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $19,394,000. Wasatch Advisors Inc. acquired a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $18,835,000. RTW Investments LP acquired a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $13,757,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $13,549,000. Institutional investors and hedge funds own 96.38% of the company’s stock.

In related news, SVP Eric Stier sold 59,293 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $12.77, for a total value of $757,171.61. Following the completion of the sale, the senior vice president now directly owns 234,104 shares in the company, valued at $2,989,508.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott Mendel sold 3,987 shares of the business’s stock in a transaction that occurred on Thursday, November 19th. The shares were sold at an average price of $13.85, for a total transaction of $55,219.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,437 shares of company stock valued at $2,809,582. 3.25% of the stock is owned by insiders.

GNMK has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. BidaskClub upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 15th. Canaccord Genuity reiterated a “buy” rating and issued a $22.00 price objective on shares of GenMark Diagnostics in a research note on Thursday, October 29th. ValuEngine cut shares of GenMark Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 10th. Finally, Needham & Company LLC raised their price objective on shares of GenMark Diagnostics from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. GenMark Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $15.58.

Shares of NASDAQ GNMK opened at $13.46 on Friday. The company has a market cap of $965.37 million, a PE ratio of -32.83 and a beta of 3.23. GenMark Diagnostics, Inc. has a 12 month low of $3.36 and a 12 month high of $20.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.33 and a quick ratio of 3.84. The company has a 50-day simple moving average of $12.88 and a 200-day simple moving average of $13.46.

GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. GenMark Diagnostics had a negative net margin of 16.95% and a negative return on equity of 39.36%. On average, analysts anticipate that GenMark Diagnostics, Inc. will post -0.25 EPS for the current year.

GenMark Diagnostics Profile

GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular panels 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 technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.

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Institutional Ownership by Quarter for GenMark Diagnostics (NASDAQ:GNMK)

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