Paloma Partners Management Co Invests $80,000 in GenMark Diagnostics, Inc (NASDAQ:GNMK)

Paloma Partners Management Co bought a new position in shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,500 shares of the medical equipment provider’s stock, valued at approximately $80,000.

Several other large investors also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in GenMark Diagnostics during the fourth quarter valued at approximately $84,000. Virtu Financial LLC purchased a new position in GenMark Diagnostics during the third quarter valued at approximately $179,000. MetLife Investment Advisors LLC increased its holdings in GenMark Diagnostics by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 40,896 shares of the medical equipment provider’s stock valued at $301,000 after buying an additional 14,546 shares during the period. OLD National Bancorp IN increased its holdings in GenMark Diagnostics by 5.9% during the fourth quarter. OLD National Bancorp IN now owns 48,475 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 2,700 shares during the period. Finally, Rhumbline Advisers increased its holdings in GenMark Diagnostics by 100.9% during the fourth quarter. Rhumbline Advisers now owns 92,042 shares of the medical equipment provider’s stock valued at $447,000 after buying an additional 46,236 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Hany Massarany sold 54,596 shares of GenMark Diagnostics stock in a transaction on Monday, February 25th. The shares were sold at an average price of $6.79, for a total transaction of $370,706.84. Following the completion of the sale, the chief executive officer now directly owns 849,404 shares in the company, valued at $5,767,453.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Stier sold 11,243 shares of GenMark Diagnostics stock in a transaction on Monday, February 25th. The stock was sold at an average price of $6.80, for a total transaction of $76,452.40. Following the sale, the senior vice president now owns 241,754 shares of the company’s stock, valued at $1,643,927.20. The disclosure for this sale can be found here. Insiders have sold 129,499 shares of company stock valued at $911,454 over the last quarter. Insiders own 7.09% of the company’s stock.

GNMK traded down $0.12 during trading on Wednesday, hitting $7.10. The stock had a trading volume of 124,100 shares, compared to its average volume of 371,832. GenMark Diagnostics, Inc has a twelve month low of $3.58 and a twelve month high of $8.81. The company has a quick ratio of 2.87, a current ratio of 3.37 and a debt-to-equity ratio of 1.07. The company has a market cap of $395.30 million, a price-to-earnings ratio of -7.80 and a beta of 1.57.

GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Thursday, February 21st. The medical equipment provider reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.05). GenMark Diagnostics had a negative return on equity of 107.77% and a negative net margin of 71.37%. The company had revenue of $19.38 million for the quarter, compared to analyst estimates of $19.22 million. On average, sell-side analysts expect that GenMark Diagnostics, Inc will post -0.74 EPS for the current year.

Several equities research analysts have weighed in on GNMK shares. BidaskClub downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, March 16th. Raymond James set a $7.00 target price on shares of GenMark Diagnostics and gave the company a “buy” rating in a research note on Thursday, December 27th. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of GenMark Diagnostics in a research note on Friday, February 22nd. ValuEngine upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. GenMark Diagnostics currently has an average rating of “Hold” and an average price target of $9.75.

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GenMark Diagnostics Company Profile

GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.

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

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