Luminex (LMNX) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Luminex (NASDAQ:LMNX) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other equities analysts have also recently weighed in on the company. BTIG Research started coverage on Luminex in a report on Friday, January 5th. They set a buy rating and a $24.00 price target for the company. TheStreet upgraded Luminex from a c+ rating to a b- rating in a report on Wednesday, November 1st. Finally, William Blair reiterated a market perform rating on shares of Luminex in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $22.33.

Shares of Luminex (LMNX) traded down $0.02 on Friday, hitting $20.35. The company’s stock had a trading volume of 233,837 shares, compared to its average volume of 334,864. Luminex has a twelve month low of $17.68 and a twelve month high of $22.42. The firm has a market cap of $897.39, a P/E ratio of 30.37, a PEG ratio of 1.95 and a beta of 0.13.

Luminex (NASDAQ:LMNX) last issued its earnings results on Monday, February 12th. The medical instruments supplier reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. Luminex had a return on equity of 8.48% and a net margin of 9.48%. The business had revenue of $78.20 million during the quarter, compared to the consensus estimate of $77.33 million. During the same period last year, the company earned $0.11 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. equities analysts predict that Luminex will post 0.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, March 22nd. Luminex’s dividend payout ratio is presently 35.82%.

In other news, Director G Walter Loewenbaum II sold 10,503 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $20.61, for a total transaction of $216,466.83. Following the completion of the transaction, the director now directly owns 564,217 shares in the company, valued at approximately $11,628,512.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 81,698 shares of company stock valued at $1,671,701. Company insiders own 6.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new position in shares of Luminex during the 3rd quarter worth $173,000. Creative Planning purchased a new position in Luminex during the 4th quarter valued at about $198,000. UBS Asset Management Americas Inc. purchased a new position in Luminex during the 4th quarter valued at about $206,000. Crossmark Global Holdings Inc. purchased a new position in Luminex during the 3rd quarter valued at about $254,000. Finally, Teacher Retirement System of Texas purchased a new position in Luminex during the 4th quarter valued at about $270,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

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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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