TD Asset Management Inc. Grows Stake in GenMark Diagnostics, Inc (GNMK)
TD Asset Management Inc. increased its stake in shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) by 13.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,280 shares of the medical equipment provider’s stock after purchasing an additional 15,812 shares during the period. TD Asset Management Inc. owned approximately 0.24% of GenMark Diagnostics worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNMK. BlueCrest Capital Management Ltd purchased a new position in shares of GenMark Diagnostics during the second quarter valued at approximately $126,000. Susquehanna International Group LLP purchased a new position in shares of GenMark Diagnostics during the second quarter valued at approximately $137,000. Legal & General Group Plc raised its holdings in shares of 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 valued at $137,000 after purchasing an additional 240 shares during the last quarter. Wrapmanager Inc. purchased a new position in shares of GenMark Diagnostics during the third quarter valued at approximately $172,000. Finally, OLD National Bancorp IN bought a new stake in GenMark Diagnostics during the third quarter valued at approximately $217,000.
Several analysts recently issued reports on GNMK shares. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. BTIG Research set a $11.00 target price on shares of GenMark Diagnostics and gave the company a “buy” rating in a research report on Monday, November 20th. Cowen restated a “buy” rating and set a $10.00 target price on shares of GenMark Diagnostics in a research report on Friday, November 3rd. Canaccord Genuity restated a “buy” rating and set a $14.00 target price on shares of GenMark Diagnostics in a research report on Monday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of GenMark Diagnostics in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.80.
In other GenMark Diagnostics news, insider Hany Massarany sold 8,252 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 362,957 shares in the company, valued at $1,720,416.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jennifer Anne Williams sold 38,681 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $9.08, for a total transaction of $351,223.48. Following the completion of the transaction, the senior vice president now owns 155,889 shares of the company’s stock, valued at $1,415,472.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,838 shares of company stock valued at $470,502. Company insiders own 7.50% of the company’s stock.
Shares of GenMark Diagnostics, Inc (GNMK) opened at $4.40 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.97 and a quick ratio of 2.77. GenMark Diagnostics, Inc has a 12-month low of $3.63 and a 12-month high of $13.67.
GenMark Diagnostics (NASDAQ:GNMK) last announced its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $14.56 million. GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. analysts forecast that GenMark Diagnostics, Inc will post -1.17 earnings per share for the current fiscal year.
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.
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