Luminex Co. (LMNX) Stake Decreased by Reliant Investment Management LLC
Reliant Investment Management LLC trimmed its holdings in Luminex Co. (NASDAQ:LMNX) by 40.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the medical instruments supplier’s stock after selling 10,000 shares during the quarter. Reliant Investment Management LLC’s holdings in Luminex were worth $443,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Luminex in the second quarter worth approximately $207,000. Cigna Investments Inc. New purchased a new stake in shares of Luminex in the first quarter worth approximately $210,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Luminex in the second quarter worth approximately $214,000. Meeder Asset Management Inc. grew its stake in Luminex by 1,278.2% in the second quarter. Meeder Asset Management Inc. now owns 8,076 shares of the medical instruments supplier’s stock worth $238,000 after purchasing an additional 7,490 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in Luminex in the first quarter worth approximately $241,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.
Shares of Luminex opened at $27.20 on Friday, Marketbeat Ratings reports. Luminex Co. has a 52-week low of $18.62 and a 52-week high of $35.37. The company has a market capitalization of $1.20 billion, a P/E ratio of 35.43, a PEG ratio of 3.39 and a beta of 0.31.
The business also recently announced a quarterly dividend, which was paid on Friday, July 13th. Shareholders of record on Friday, June 22nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 21st. This represents a $0.24 annualized dividend and a yield of 0.88%. Luminex’s dividend payout ratio (DPR) is presently 26.37%.
Several brokerages recently issued reports on LMNX. ValuEngine cut Luminex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research cut Luminex from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price objective on shares of Luminex in a research note on Tuesday, August 7th. BidaskClub raised Luminex from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Citigroup increased their price objective on Luminex from $23.00 to $34.00 and gave the stock a “$33.58” rating in a research note on Monday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Luminex presently has an average rating of “Hold” and a consensus price target of $28.60.
In other Luminex news, SVP Eric Shapiro sold 2,245 shares of the stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $27.66, for a total transaction of $62,096.70. Following the sale, the senior vice president now owns 20,819 shares of the company’s stock, valued at approximately $575,853.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Todd C. Bennett sold 2,235 shares of the stock in a transaction on Monday, May 14th. The shares were sold at an average price of $25.95, for a total value of $57,998.25. Following the sale, the senior vice president now directly owns 21,309 shares in the company, valued at approximately $552,968.55. The disclosure for this sale can be found here. Insiders have sold a total of 95,496 shares of company stock worth $2,777,427 in the last ninety days. Insiders own 7.40% 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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