Fidelity Management & Research Co… recently announced the acquisition of new stake in GenMark Diagnostics Inc. (NASDAQ:GNMK). The institutional investor has increased its shareholding in the Healthcare company by 0.95% to 8.18 million shares with purchase of 77323.0 shares. This fresh investment now brings its stake to 11.64% valued currently at $120.26 million. In addition, Managed Account Advisors LLC raised its holdings by 0.75 million to 2.75 million shares. And HighTower Advisors LLC has lifted its position by 0.94% or 21300.0 shares – to 2.29 million shares.
With over 0.94 million GenMark Diagnostics Inc. (GNMK) shares trading Friday and a closing price of $16.80 on the day, the dollar volume was approximately $15.75 million. The shares have shown a negative weekly performance of -8.05% and its price on 07/24/20 lost nearly -6.30%. Currently, there are 60.67M common shares owned by the public and among those 58.55M shares have been available to trade.
Incidentally, analysts’ outlook for the GenMark Diagnostics Inc. stock is 1.90 for the next 12 months.
Insiders at the company have transacted a total of 145 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 1,225,547 shares. Insider sales of the common stock occurred on 105 occasions, with total insider shares sold totaling 426,643 shares.
The top 3 mutual fund holders in GenMark Diagnostics Inc. are Fidelity Select Port. – Health Ca, Fidelity Select Medical Technolog, and Vanguard Total Stock Market Index. Fidelity Select Port. – Health Ca owns 2.68 million shares of the company’s stock, all valued at over $39.49 million. The company bought an additional 0.18 million shares recently to bring their total holdings to about 3.82% of the shares outstanding. Fidelity Select Medical Technolog bought 0.19 million shares to see its total holdings expand to 2.67 million shares valued at over $39.27 million and representing 3.80% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.62% of the shares outstanding.
Shares of GenMark Diagnostics Inc. (NASDAQ: GNMK) opened at $17.77, down -$0.16 from a prior closing price of $17.93. However, the script later closed the day at $16.80, down -6.30%. The company’s stock has a 5-day price change of -8.05% and 51.08% over the past three months. GNMK shares are trading 249.27% year to date (YTD), with the 12-month market performance up to 167.09% higher. It has a 12-month low price of $3.36 and touched a high of $19.83 over the same period. Currently, 0.94 million shares have been traded, compared to an average intraday trading volume of 2.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.62%, 27.92%, and 119.32% respectively.
Institutional ownership of GenMark Diagnostics Inc. (NASDAQ: GNMK) shares accounts for 75.30% of the company’s 60.67M shares outstanding. Mutual fund holders own 32.52%, while other institutional holders and individual stakeholders account for 33.79% and 10.69% respectively.
It has a market capitalization of $1.13B and a beta (3y monthly) value of 3.08. The earnings-per-share (ttm) stands at -$0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.14% over the week and 7.55% over the month.
Analysts forecast that GenMark Diagnostics Inc. (GNMK) will achieve an EPS of -$0.09 for the current quarter, -$0.13 for the next quarter and -$0.26 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.23 a year ago. Earnings per share for the fiscal year are expected to increase by 9.40%, and 38.10% over the next financial year.
Looking at the support for the GNMK, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on July 08, 2020, with the firm’s price target at $15-$19. Needham coverage for the GenMark Diagnostics Inc. (GNMK) stock in a research note released on May 05, 2020 offered a Buy rating with a price target of $15. Raymond James was of a view on February 11, 2020 that the stock is Mkt Perform, while JP Morgan gave the stock Neutral rating on December 11, 2019, issuing a price target of . Needham on their part issued Buy rating on February 22, 2019.