GenMark Diagnostics, Inc (GNMK) Holdings Trimmed by Citadel Advisors LLC
Citadel Advisors LLC lessened its holdings in shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) by 90.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,143 shares of the medical equipment provider’s stock after selling 849,194 shares during the quarter. Citadel Advisors LLC owned approximately 0.16% of GenMark Diagnostics worth $848,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in GenMark Diagnostics by 15.8% during the second quarter. JPMorgan Chase & Co. now owns 4,097,767 shares of the medical equipment provider’s stock worth $48,476,000 after buying an additional 559,629 shares during the last quarter. Vanguard Group Inc. increased its position in GenMark Diagnostics by 10.9% during the second quarter. Vanguard Group Inc. now owns 2,169,476 shares of the medical equipment provider’s stock worth $25,664,000 after buying an additional 212,795 shares during the last quarter. Federated Investors Inc. PA increased its position in GenMark Diagnostics by 62,991.5% during the second quarter. Federated Investors Inc. PA now owns 200,000 shares of the medical equipment provider’s stock worth $2,366,000 after buying an additional 199,683 shares during the last quarter. Marshall Wace North America L.P. increased its position in GenMark Diagnostics by 1,787.6% during the second quarter. Marshall Wace North America L.P. now owns 544,020 shares of the medical equipment provider’s stock worth $6,528,000 after buying an additional 515,200 shares during the last quarter. Finally, Northpointe Capital LLC increased its position in GenMark Diagnostics by 24.4% during the third quarter. Northpointe Capital LLC now owns 1,552,740 shares of the medical equipment provider’s stock worth $14,953,000 after buying an additional 304,232 shares during the last quarter.
Shares of GenMark Diagnostics, Inc (NASDAQ GNMK) opened at $4.39 on Friday. GenMark Diagnostics, Inc has a 1-year low of $3.63 and a 1-year high of $13.67. The company has a current ratio of 2.97, a quick ratio of 2.77 and a debt-to-equity ratio of 0.12.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). GenMark Diagnostics had a negative return on equity of 100.33% and a negative net margin of 116.76%. The firm had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The company’s revenue was up 7.4% on a year-over-year basis. sell-side analysts anticipate that GenMark Diagnostics, Inc will post -1.17 earnings per share for the current fiscal year.
GNMK has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on GenMark Diagnostics from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and set a $14.00 price target on shares of GenMark Diagnostics in a research report on Monday, October 30th. Bank of America initiated coverage on GenMark Diagnostics in a research report on Monday, September 18th. They set a “buy” rating and a $13.00 price target on the stock. BTIG Research reissued a “buy” rating and set a $13.00 price target on shares of GenMark Diagnostics in a research report on Thursday, August 31st. Finally, Cowen restated a “buy” rating and set a $10.00 price objective on shares of GenMark Diagnostics in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. GenMark Diagnostics has a consensus rating of “Hold” and a consensus target price of $11.80.
In other news, SVP Eric Stier sold 2,750 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $9.60, for a total transaction of $26,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Kagnoff acquired 20,000 shares of GenMark Diagnostics stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $4.13 per share, with a total value of $82,600.00. Following the acquisition, the director now owns 64,413 shares of the company’s stock, valued at $266,025.69. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 59,838 shares of company stock valued at $470,502. Corporate 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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