Northpointe Capital LLC Has $13,161,000 Stake in GenMark Diagnostics Inc. (GNMK)
Northpointe Capital LLC boosted its position in GenMark Diagnostics Inc. (NASDAQ:GNMK) by 50.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,512,734 shares of the company’s stock after buying an additional 510,472 shares during the period. GenMark Diagnostics accounts for 1.6% of Northpointe Capital LLC’s investment portfolio, making the stock its 10th largest position. Northpointe Capital LLC owned about 3.54% of GenMark Diagnostics worth $13,161,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in shares of GenMark Diagnostics by 15.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,575,036 shares of the company’s stock worth $13,570,000 after buying an additional 350,000 shares during the period. Geode Capital Management LLC raised its position in shares of GenMark Diagnostics by 5.8% in the first quarter. Geode Capital Management LLC now owns 286,064 shares of the company’s stock worth $1,507,000 after buying an additional 15,737 shares during the period. Artemis Investment Management LLP raised its position in shares of GenMark Diagnostics by 100.0% in the second quarter. Artemis Investment Management LLP now owns 216,928 shares of the company’s stock worth $1,885,000 after buying an additional 108,464 shares during the period. Bogle Investment Management L P DE raised its position in shares of GenMark Diagnostics by 836.6% in the first quarter. Bogle Investment Management L P DE now owns 136,821 shares of the company’s stock worth $721,000 after buying an additional 122,213 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of GenMark Diagnostics during the first quarter worth about $376,000.
GenMark Diagnostics Inc. (NASDAQ:GNMK) traded up 2.20% during midday trading on Monday, hitting $12.06. The stock had a trading volume of 276,760 shares. The stock has a 50 day moving average of $9.58 and a 200 day moving average of $7.98. The stock’s market cap is $518.50 million. GenMark Diagnostics Inc. has a 12 month low of $4.20 and a 12 month high of $12.17.
GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Thursday, July 28th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The firm earned $12.50 million during the quarter, compared to the consensus estimate of $9.62 million. GenMark Diagnostics had a negative net margin of 101.78% and a negative return on equity of 108.34%. The company’s revenue was up 63.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. Analysts expect that GenMark Diagnostics Inc. will post ($1.18) EPS for the current fiscal year.
GNMK has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on GenMark Diagnostics in a research note on Friday, June 17th. They issued a “buy” rating and a $13.00 target price for the company. Zacks Investment Research lowered GenMark Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. JPMorgan Chase & Co. raised their target price on GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Canaccord Genuity restated a “buy” rating on shares of GenMark Diagnostics in a research note on Wednesday, June 8th. Finally, Cowen and Company upgraded GenMark Diagnostics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Friday, September 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $11.89.
In other GenMark Diagnostics news, SVP Michael Gleeson sold 7,500 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $9.00, for a total value of $67,500.00. Following the completion of the transaction, the senior vice president now owns 246,934 shares in the company, valued at $2,222,406. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jennifer Anne Williams sold 24,172 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $208,604.36. Following the completion of the transaction, the senior vice president now owns 164,937 shares of the company’s stock, valued at approximately $1,423,406.31. The disclosure for this sale can be found here. Corporate insiders own 7.09% of the company’s stock.
GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States.
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