Cortina Asset Management LLC Has $7.17 Million Holdings in Chembio Diagnostics Inc (CEMI)

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Cortina Asset Management LLC raised its position in shares of Chembio Diagnostics Inc (NASDAQ:CEMI) by 23.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 645,718 shares of the company’s stock after purchasing an additional 121,330 shares during the quarter. Cortina Asset Management LLC’s holdings in Chembio Diagnostics were worth $7,167,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in Chembio Diagnostics by 78.7% during the first quarter. Wells Fargo & Company MN now owns 140,750 shares of the company’s stock valued at $1,126,000 after purchasing an additional 62,000 shares in the last quarter. Gagnon Advisors LLC purchased a new position in Chembio Diagnostics during the first quarter valued at approximately $1,037,000. EAM Investors LLC purchased a new position in Chembio Diagnostics during the second quarter valued at approximately $814,000. Gagnon Securities LLC purchased a new position in shares of Chembio Diagnostics in the first quarter worth $1,614,000. Finally, Perkins Capital Management Inc. lifted its holdings in shares of Chembio Diagnostics by 26.9% in the second quarter. Perkins Capital Management Inc. now owns 94,550 shares of the company’s stock worth $1,050,000 after buying an additional 20,050 shares in the last quarter. 44.96% of the stock is currently owned by institutional investors and hedge funds.

CEMI stock opened at $10.30 on Thursday. Chembio Diagnostics Inc has a one year low of $5.75 and a one year high of $11.55. The company has a current ratio of 3.53, a quick ratio of 2.58 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $146.70 million, a PE ratio of -19.81 and a beta of 1.40.

Chembio Diagnostics (NASDAQ:CEMI) last released its earnings results on Wednesday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Chembio Diagnostics had a negative return on equity of 26.91% and a negative net margin of 16.54%. The company had revenue of $8.72 million during the quarter, compared to analysts’ expectations of $6.94 million. equities research analysts predict that Chembio Diagnostics Inc will post -0.44 EPS for the current year.

Several research firms have recently commented on CEMI. Benchmark began coverage on shares of Chembio Diagnostics in a report on Wednesday, July 11th. They issued a “buy” rating and a $14.00 target price on the stock. ValuEngine downgraded shares of Chembio Diagnostics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 4th.

Chembio Diagnostics Company Profile

Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or monitor diseases. It offers tests for HIV and Syphilis, and Zika virus. The company also develops tests for malaria, Dengue virus, chikungunya virus, Ebola, Lassa, Marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.

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Institutional Ownership by Quarter for Chembio Diagnostics (NASDAQ:CEMI)

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