Luminex (NASDAQ:LMNX) Coverage Initiated at BTIG Research

BTIG Research initiated coverage on shares of Luminex (NASDAQ:LMNX) in a research report sent to investors on Friday, January 5th, Marketbeat reports. The firm issued a buy rating and a $24.00 price objective on the medical instruments supplier’s stock.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Luminex from a c+ rating to a b- rating in a research note on Wednesday, November 1st. Jefferies Group reissued a hold rating and issued a $21.00 price target on shares of Luminex in a report on Friday, October 20th. Finally, BidaskClub lowered shares of Luminex from a hold rating to a sell rating in a report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $20.80.

Shares of Luminex (LMNX) traded up $0.23 on Friday, reaching $20.73. 264,657 shares of the company’s stock were exchanged, compared to its average volume of 231,362. The company has a market capitalization of $913.25, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.96 and a beta of 0.19. Luminex has a 1 year low of $17.68 and a 1 year high of $22.42.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Luminex had a net margin of 9.52% and a return on equity of 6.01%. The firm had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.38 million. During the same quarter last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. research analysts predict that Luminex will post 0.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 22nd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Thursday, December 21st. Luminex’s dividend payout ratio is presently 35.82%.

In other Luminex news, Director G Walter Loewenbaum II sold 10,503 shares of Luminex stock in a transaction on Monday, December 18th. The shares were sold at an average price of $20.61, for a total transaction of $216,466.83. Following the completion of the sale, the director now owns 564,217 shares of the company’s stock, valued at approximately $11,628,512.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 131,698 shares of company stock valued at $2,761,201 in the last ninety days. Company insiders own 6.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in Luminex by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,640 shares of the medical instruments supplier’s stock valued at $668,000 after acquiring an additional 402 shares in the last quarter. Pinebridge Investments L.P. lifted its position in Luminex by 8.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock valued at $111,000 after acquiring an additional 405 shares in the last quarter. Comerica Bank lifted its position in Luminex by 1.4% in the 2nd quarter. Comerica Bank now owns 41,824 shares of the medical instruments supplier’s stock valued at $866,000 after acquiring an additional 583 shares in the last quarter. New York State Common Retirement Fund lifted its position in Luminex by 1.4% in the 2nd quarter. New York State Common Retirement Fund now owns 44,200 shares of the medical instruments supplier’s stock valued at $934,000 after acquiring an additional 599 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Luminex by 7.5% in the 2nd quarter. Arizona State Retirement System now owns 20,818 shares of the medical instruments supplier’s stock valued at $440,000 after acquiring an additional 1,450 shares in the last quarter. 79.16% of the stock is currently owned by institutional investors and hedge funds.

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Luminex 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.

Analyst Recommendations for Luminex (NASDAQ:LMNX)

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