BidaskClub Lowers Luminex Corporation (NASDAQ:LMNX) to Sell
BidaskClub cut shares of Luminex Corporation (NASDAQ:LMNX) from a hold rating to a sell rating in a research report released on Friday morning.
Several other brokerages have also recently commented on LMNX. Zacks Investment Research cut shares of Luminex Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, July 4th. TheStreet upgraded shares of Luminex Corporation from a c+ rating to a b- rating in a research report on Friday, May 19th. Jefferies Group LLC reiterated a hold rating and set a $21.00 price objective on shares of Luminex Corporation in a research report on Friday, June 9th. Finally, ValuEngine cut shares of Luminex Corporation from a hold rating to a sell rating in a research report on Saturday, July 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $21.67.
Shares of Luminex Corporation (LMNX) traded down 0.710% during mid-day trading on Friday, reaching $20.285. 7,313 shares of the company’s stock traded hands. Luminex Corporation has a 12 month low of $17.64 and a 12 month high of $23.62. The firm has a 50 day moving average price of $20.79 and a 200-day moving average price of $19.65. The stock has a market cap of $891.04 million, a PE ratio of 62.997 and a beta of 0.29.
Luminex Corporation (NASDAQ:LMNX) last issued its earnings results on Monday, May 1st. The medical instruments supplier reported $0.28 EPS for the quarter, beating the consensus estimate of $0.16 by $0.12. The company had revenue of $77.80 million during the quarter, compared to analysts’ expectations of $74.25 million. Luminex Corporation had a net margin of 5.00% and a return on equity of 5.48%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. On average, analysts predict that Luminex Corporation will post $0.52 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 23rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Wednesday, June 21st. Luminex Corporation’s dividend payout ratio is 75.00%.
In other Luminex Corporation news, Director G Walter Loewenbaum II sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $20.23, for a total transaction of $505,750.00. Following the sale, the director now directly owns 738,896 shares of the company’s stock, valued at approximately $14,947,866.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 75,000 shares of company stock valued at $1,527,500. 6.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Sei Investments Co. raised its stake in Luminex Corporation by 10.9% in the first quarter. Sei Investments Co. now owns 5,946 shares of the medical instruments supplier’s stock worth $110,000 after buying an additional 582 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Luminex Corporation by 6.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,780 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 489 shares during the last quarter. Mason Street Advisors LLC raised its stake in Luminex Corporation by 0.5% in the first quarter. Mason Street Advisors LLC now owns 8,713 shares of the medical instruments supplier’s stock worth $160,000 after buying an additional 46 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Luminex Corporation by 92.1% in the second quarter. State of Alaska Department of Revenue now owns 7,895 shares of the medical instruments supplier’s stock worth $166,000 after buying an additional 3,785 shares during the last quarter. Finally, Creative Planning raised its stake in Luminex Corporation by 5.4% in the first quarter. Creative Planning now owns 9,256 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 474 shares during the last quarter. 74.15% of the stock is currently owned by hedge funds and other institutional investors.
Luminex Corporation 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.
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