Luminex (NASDAQ:LMNX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.
A number of other brokerages also recently weighed in on LMNX. Zacks Investment Research downgraded Luminex from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. BTIG Research set a $26.00 price target on Luminex and gave the stock a “buy” rating in a research report on Tuesday, May 8th. ValuEngine raised Luminex from a “hold” rating to a “buy” rating in a research report on Tuesday, May 8th. Deutsche Bank raised Luminex from a “sell” rating to a “hold” rating and set a $22.00 price target on the stock in a research report on Monday, May 7th. Finally, William Blair reissued a “market perform” rating on shares of Luminex in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $24.00.
Shares of NASDAQ LMNX opened at $27.65 on Thursday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 2.26 and a beta of 0.11. Luminex has a twelve month low of $18.62 and a twelve month high of $27.90.
Luminex (NASDAQ:LMNX) last announced its quarterly earnings results on Monday, May 7th. The medical instruments supplier reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The firm had revenue of $82.60 million for the quarter, compared to the consensus estimate of $80.52 million. Luminex had a return on equity of 8.07% and a net margin of 10.60%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. equities analysts forecast that Luminex will post 0.75 EPS for the current year.
In other news, SVP Todd C. Bennett sold 2,235 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $25.95, for a total value of $57,998.25. Following the transaction, the senior vice president now owns 21,309 shares of the company’s stock, valued at $552,968.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Citigroup Inc. grew its position in shares of Luminex by 12.2% in the first quarter. Citigroup Inc. now owns 18,527 shares of the medical instruments supplier’s stock valued at $390,000 after purchasing an additional 2,019 shares during the last quarter. Aperio Group LLC grew its position in shares of Luminex by 7.9% in the fourth quarter. Aperio Group LLC now owns 34,333 shares of the medical instruments supplier’s stock valued at $676,000 after purchasing an additional 2,521 shares during the last quarter. Northern Trust Corp grew its position in shares of Luminex by 0.3% in the first quarter. Northern Trust Corp now owns 955,107 shares of the medical instruments supplier’s stock valued at $20,124,000 after purchasing an additional 3,154 shares during the last quarter. Rhumbline Advisers grew its position in shares of Luminex by 3.5% in the first quarter. Rhumbline Advisers now owns 103,451 shares of the medical instruments supplier’s stock valued at $2,180,000 after purchasing an additional 3,530 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in Luminex by 5.6% during the first quarter. Systematic Financial Management LP now owns 69,490 shares of the medical instruments supplier’s stock worth $1,464,000 after buying an additional 3,715 shares in the last quarter. 81.88% of the stock is currently owned by institutional investors.
Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, an automated multiplex-capable system.
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