BidaskClub cut shares of Luminex Corporation (NASDAQ:LMNX) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, August 9th.
Several other research firms have also commented on LMNX. ValuEngine raised shares of Luminex Corporation from a sell rating to a hold rating in a research note on Thursday, May 11th. Zacks Investment Research cut shares of Luminex Corporation from a strong-buy rating to a hold rating in a report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a hold rating and issued a $21.00 target price on shares of Luminex Corporation in a report on Friday, June 9th. Finally, TheStreet cut shares of Luminex Corporation from a b rating to a c+ rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $21.60.
Luminex Corporation (LMNX) traded down 0.32% during trading on Wednesday, reaching $18.95. 138,221 shares of the company traded hands. The company has a market capitalization of $835.15 million, a P/E ratio of 58.67 and a beta of 0.29. The firm has a 50-day moving average price of $20.30 and a 200-day moving average price of $19.62. Luminex Corporation has a 52 week low of $17.64 and a 52 week high of $23.62.
Luminex Corporation (NASDAQ:LMNX) last posted its quarterly earnings data on Monday, August 7th. The medical instruments supplier reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Luminex Corporation had a net margin of 4.72% and a return on equity of 4.81%. The business had revenue of $76.50 million during the quarter, compared to analyst estimates of $75.45 million. During the same quarter last year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. Analysts forecast that Luminex Corporation will post $0.54 earnings per share for the current fiscal year.
In other Luminex Corporation news, Director G Walter Loewenbaum II sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $20.07, for a total transaction of $501,750.00. Following the sale, the director now owns 713,896 shares of the company’s stock, valued at $14,327,892.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. raised its position in shares of Luminex Corporation by 8.3% in the second quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock worth $111,000 after buying an additional 405 shares during the period. Sei Investments Co. raised its position in shares of Luminex Corporation by 10.9% in the first quarter. Sei Investments Co. now owns 5,946 shares of the medical instruments supplier’s stock worth $110,000 after buying an additional 582 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Luminex Corporation by 6.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,780 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 489 shares during the period. State of Alaska Department of Revenue raised its position in shares of Luminex Corporation by 92.1% in the second quarter. State of Alaska Department of Revenue now owns 7,895 shares of the medical instruments supplier’s stock worth $166,000 after buying an additional 3,785 shares during the period. Finally, Mason Street Advisors LLC raised its position in shares of Luminex Corporation by 0.5% in the first quarter. Mason Street Advisors LLC now owns 8,713 shares of the medical instruments supplier’s stock worth $160,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.
Luminex Corporation Company Profile
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.
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