California Public Employees Retirement System decreased its position in shares of GenMark Diagnostics, Inc. (NASDAQ:GNMK) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,700 shares of the medical equipment provider’s stock after selling 2,200 shares during the period. California Public Employees Retirement System owned approximately 0.11% of GenMark Diagnostics worth $650,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of GenMark Diagnostics by 13.1% in the first quarter. Teachers Advisors LLC now owns 111,084 shares of the medical equipment provider’s stock worth $1,424,000 after buying an additional 12,864 shares in the last quarter. FMR LLC raised its position in shares of GenMark Diagnostics by 1.4% in the first quarter. FMR LLC now owns 7,057,680 shares of the medical equipment provider’s stock worth $90,480,000 after buying an additional 97,034 shares in the last quarter. American International Group Inc. raised its position in shares of GenMark Diagnostics by 7.8% in the first quarter. American International Group Inc. now owns 24,885 shares of the medical equipment provider’s stock worth $319,000 after buying an additional 1,802 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of GenMark Diagnostics by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 3,538,138 shares of the medical equipment provider’s stock worth $45,359,000 after buying an additional 170,977 shares in the last quarter. Finally, Airain ltd bought a new position in shares of GenMark Diagnostics during the first quarter worth approximately $159,000. 93.07% of the stock is currently owned by institutional investors and hedge funds.
GenMark Diagnostics, Inc. (GNMK) traded down 0.93% during mid-day trading on Friday, reaching $9.60. The company’s stock had a trading volume of 317,784 shares. The stock’s market cap is $524.80 million. GenMark Diagnostics, Inc. has a 52-week low of $8.03 and a 52-week high of $13.67. The company has a 50 day moving average of $11.19 and a 200-day moving average of $12.12.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $12.36 million for the quarter, compared to analyst estimates of $12.44 million. GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. GenMark Diagnostics’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) EPS. Equities analysts forecast that GenMark Diagnostics, Inc. will post ($1.07) earnings per share for the current year.
A number of research analysts have recently commented on the company. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Canaccord Genuity reissued a “buy” rating and set a $14.00 price objective (down previously from $17.00) on shares of GenMark Diagnostics in a report on Monday, August 7th. Cowen and Company reissued an “outperform” rating and set a $17.00 price objective on shares of GenMark Diagnostics in a report on Wednesday, August 2nd. Needham & Company LLC increased their price objective on GenMark Diagnostics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, June 13th. Finally, ValuEngine raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. GenMark Diagnostics currently has an average rating of “Hold” and an average price target of $15.80.
About GenMark Diagnostics
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.
Want to see what other hedge funds are holding GNMK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GenMark Diagnostics, Inc. (NASDAQ:GNMK).
Receive News & Ratings for GenMark Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GenMark Diagnostics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
