Shares of Luminex Co. (NASDAQ:LMNX) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.00.
LMNX has been the subject of several research reports. TheStreet upgraded shares of Luminex from a “c+” rating to a “b-” rating in a research report on Wednesday, November 1st. Jefferies Group restated a “hold” rating and issued a $21.00 price objective on shares of Luminex in a research report on Friday, October 20th. BidaskClub lowered shares of Luminex from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised shares of Luminex from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Luminex from a “hold” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research note on Thursday, August 24th.
In related news, Director G Walter Loewenbaum II sold 50,000 shares of Luminex stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $21.79, for a total transaction of $1,089,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in LMNX. Teachers Advisors LLC raised its holdings in Luminex by 4.7% during the 1st quarter. Teachers Advisors LLC now owns 87,489 shares of the medical instruments supplier’s stock worth $1,607,000 after buying an additional 3,950 shares during the period. State Street Corp raised its holdings in Luminex by 13.0% during the 1st quarter. State Street Corp now owns 1,009,789 shares of the medical instruments supplier’s stock worth $18,548,000 after buying an additional 116,351 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in Luminex during the 1st quarter worth approximately $224,000. Louisiana State Employees Retirement System raised its holdings in Luminex by 7.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the medical instruments supplier’s stock worth $344,000 after buying an additional 1,100 shares during the period. Finally, Aperio Group LLC raised its holdings in shares of Luminex by 190.9% in the second quarter. Aperio Group LLC now owns 35,594 shares of the medical instruments supplier’s stock valued at $752,000 after purchasing an additional 23,357 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.
Luminex (LMNX) remained flat at $$20.54 on Thursday. 97,929 shares of the stock were exchanged, compared to its average volume of 220,508. The stock has a market cap of $904.87, a price-to-earnings ratio of 35.41, a PEG ratio of 2.58 and a beta of 0.19. Luminex has a 12 month low of $17.68 and a 12 month high of $22.42.
Luminex (NASDAQ:LMNX) last posted its quarterly earnings data on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. The firm had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.38 million. Luminex had a net margin of 9.52% and a return on equity of 6.01%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. analysts expect that Luminex will post 0.49 earnings per share for the current year.
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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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