Luminex Corporation (LMNX) Upgraded to B- by TheStreet
A number of other research analysts have also recently commented on the stock. Jefferies Group LLC restated a hold rating and set a $21.00 price target on shares of Luminex Corporation in a research note on Friday, October 20th. ValuEngine upgraded shares of Luminex Corporation from a sell rating to a hold rating in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Luminex Corporation from a hold rating to a strong-buy rating and set a $22.00 price target for the company in a research note on Thursday, August 24th. Finally, BidaskClub cut shares of Luminex Corporation from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. Luminex Corporation currently has a consensus rating of Hold and an average target price of $20.00.
Shares of Luminex Corporation (LMNX) traded down $0.01 on Wednesday, reaching $21.47. 246,338 shares of the company’s stock were exchanged, compared to its average volume of 147,681. The stock has a market cap of $941.00 million, a P/E ratio of 36.83, a PEG ratio of 3.29 and a beta of 0.18.
Luminex Corporation (NASDAQ:LMNX) last announced its quarterly earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.38 million. Luminex Corporation had a net margin of 9.52% and a return on equity of 6.01%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. research analysts predict that Luminex Corporation will post 0.4 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 22nd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Thursday, September 21st. Luminex Corporation’s dividend payout ratio (DPR) is currently 36.36%.
In other news, Director Robert J. Cresci sold 19,631 shares of Luminex Corporation stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $18.98, for a total value of $372,596.38. Following the completion of the transaction, the director now owns 260,358 shares in the company, valued at $4,941,594.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Luminex Corporation by 13.0% in the first quarter. State Street Corp now owns 1,009,789 shares of the medical instruments supplier’s stock valued at $18,548,000 after acquiring an additional 116,351 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Luminex Corporation by 9.9% in the first quarter. Bank of America Corp DE now owns 322,154 shares of the medical instruments supplier’s stock valued at $5,917,000 after acquiring an additional 29,107 shares during the last quarter. Citigroup Inc. raised its stake in shares of Luminex Corporation by 20.6% in the second quarter. Citigroup Inc. now owns 44,906 shares of the medical instruments supplier’s stock valued at $948,000 after acquiring an additional 7,658 shares during the last quarter. BlackRock Inc. raised its stake in shares of Luminex Corporation by 52,547.0% in the first quarter. BlackRock Inc. now owns 5,063,064 shares of the medical instruments supplier’s stock valued at $93,008,000 after acquiring an additional 5,053,447 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its stake in shares of Luminex Corporation by 6.8% in the second quarter. Marshall Wace North America L.P. now owns 88,236 shares of the medical instruments supplier’s stock valued at $1,853,000 after acquiring an additional 5,584 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.
About Luminex Corporation
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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