Luminex (NASDAQ:LMNX) had its target price dropped by research analysts at Citigroup from $34.00 to $33.00 in a research note issued on Tuesday. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s target price points to a potential upside of 29.41% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $27.00 target price on shares of Luminex in a research note on Tuesday, August 7th. ValuEngine upgraded shares of Luminex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 19th. Zacks Investment Research cut shares of Luminex from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, BidaskClub cut shares of Luminex from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.40.
Shares of LMNX traded down $4.12 during trading hours on Tuesday, hitting $25.50. The stock had a trading volume of 10,580 shares, compared to its average volume of 222,670. Luminex has a fifty-two week low of $18.62 and a fifty-two week high of $35.37. The stock has a market cap of $1.34 billion, a P/E ratio of 27.67, a P/E/G ratio of 3.45 and a beta of 0.34.
Luminex (NASDAQ:LMNX) last posted its earnings results on Monday, November 5th. The medical instruments supplier reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). Luminex had a net margin of 10.57% and a return on equity of 7.44%. The firm had revenue of $72.40 million during the quarter, compared to analyst estimates of $74.05 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts forecast that Luminex will post 0.58 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of LMNX. Legal & General Group Plc raised its position in shares of Luminex by 9.7% in the first quarter. Legal & General Group Plc now owns 86,215 shares of the medical instruments supplier’s stock valued at $1,817,000 after buying an additional 7,642 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Luminex in the first quarter valued at about $241,000. Principal Financial Group Inc. grew its holdings in shares of Luminex by 2.8% in the first quarter. Principal Financial Group Inc. now owns 329,799 shares of the medical instruments supplier’s stock valued at $6,949,000 after purchasing an additional 9,050 shares during the period. Brown Advisory Inc. purchased a new stake in shares of Luminex in the first quarter valued at about $244,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of Luminex in the second quarter valued at about $382,000. Institutional investors own 82.36% of the company’s stock.
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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