GenMark Diagnostics, Inc (GNMK) Position Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,396,940 shares of the medical equipment provider’s stock after acquiring an additional 299,173 shares during the period. JPMorgan Chase & Co. owned approximately 8.03% of GenMark Diagnostics worth $41,288,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlueCrest Capital Management Ltd acquired a new position in GenMark Diagnostics during the second quarter worth $126,000. Legal & General Group Plc grew its holdings in GenMark Diagnostics by 2.1% during the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after acquiring an additional 240 shares during the period. Susquehanna International Group LLP acquired a new position in GenMark Diagnostics during the second quarter worth $137,000. Wrapmanager Inc. acquired a new position in GenMark Diagnostics during the third quarter worth $172,000. Finally, Voya Investment Management LLC grew its holdings in GenMark Diagnostics by 17.5% in the second quarter. Voya Investment Management LLC now owns 19,725 shares of the medical equipment provider’s stock valued at $233,000 after purchasing an additional 2,943 shares during the last quarter.

Shares of GenMark Diagnostics, Inc (NASDAQ GNMK) opened at $4.39 on Monday. The company has a quick ratio of 2.77, a current ratio of 2.97 and a debt-to-equity ratio of 0.12. GenMark Diagnostics, Inc has a twelve month low of $3.63 and a twelve month high of $13.67.

GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.02). The firm had revenue of $11.60 million during the quarter, compared to analyst estimates of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted ($0.27) EPS. sell-side analysts predict that GenMark Diagnostics, Inc will post -1.17 EPS for the current year.

In other news, SVP Eric Stier sold 2,750 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $9.60, for a total value of $26,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $4.74, for a total value of $39,114.48. Following the completion of the sale, the insider now owns 362,957 shares in the company, valued at $1,720,416.18. The disclosure for this sale can be found here. Insiders sold 59,838 shares of company stock worth $470,502 over the last 90 days. Company insiders own 7.50% of the company’s stock.

Several analysts have weighed in on the company. Canaccord Genuity reissued a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, September 27th. BidaskClub lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research raised GenMark Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of GenMark Diagnostics in a report on Wednesday, October 4th. Finally, BTIG Research reissued a “buy” rating and issued a $13.00 target price on shares of GenMark Diagnostics in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $11.80.

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

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