Luminex (LMNX) Rating Reiterated by William Blair

William Blair reissued their market perform rating on shares of Luminex (NASDAQ:LMNX) in a report issued on Tuesday.

A number of other equities analysts have also weighed in on LMNX. BidaskClub upgraded shares of Luminex from a strong sell rating to a sell rating in a report on Saturday, February 3rd. Jefferies Group reaffirmed a hold rating and issued a $21.00 target price on shares of Luminex in a research report on Friday, October 20th. TheStreet raised shares of Luminex from a c+ rating to a b- rating in a research report on Wednesday, November 1st. Finally, BTIG Research assumed coverage on shares of Luminex in a research report on Friday, January 5th. They issued a buy rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $22.33.

Luminex (NASDAQ:LMNX) opened at $19.72 on Tuesday. Luminex has a 1-year low of $17.68 and a 1-year high of $22.42. The company has a market cap of $869.64, a P/E ratio of 29.43, a P/E/G ratio of 1.88 and a beta of 0.13.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, February 12th. The medical instruments supplier reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. Luminex had a net margin of 9.48% and a return on equity of 8.48%. The company had revenue of $78.20 million during the quarter, compared to analyst estimates of $77.33 million. During the same period in the previous year, the business earned $0.11 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. analysts forecast that Luminex will post 0.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, March 22nd. Luminex’s dividend payout ratio (DPR) is presently 35.82%.

In other Luminex news, Director G Walter Loewenbaum II sold 10,503 shares of Luminex stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $20.61, for a total value 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 legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 81,698 shares of company stock valued at $1,671,701. 6.90% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new stake in shares of Luminex during the 4th quarter valued at $372,000. Millennium Management LLC grew its position in shares of Luminex by 32.0% during the 4th quarter. Millennium Management LLC now owns 940,675 shares of the medical instruments supplier’s stock valued at $18,531,000 after acquiring an additional 228,008 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of Luminex by 13.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 171,201 shares of the medical instruments supplier’s stock valued at $3,373,000 after acquiring an additional 20,609 shares during the period. Two Sigma Investments LP grew its position in shares of Luminex by 182.2% during the 4th quarter. Two Sigma Investments LP now owns 96,246 shares of the medical instruments supplier’s stock valued at $1,896,000 after acquiring an additional 62,136 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Luminex by 87.4% during the 4th quarter. Two Sigma Advisers LP now owns 123,926 shares of the medical instruments supplier’s stock valued at $2,441,000 after acquiring an additional 57,800 shares during the period. 76.64% of the stock is owned by hedge funds and other institutional investors.

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About Luminex

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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