Luminex (LMNX) Cut to Strong Sell at BidaskClub
BidaskClub cut shares of Luminex (NASDAQ:LMNX) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.
LMNX has been the subject of a number of other reports. ValuEngine upgraded shares of Luminex from a sell rating to a hold rating in a research note on Wednesday, September 6th. TheStreet upgraded shares of Luminex from a c+ rating to a b- rating in a research note on Wednesday, November 1st. Finally, Jefferies Group reiterated a hold rating and set a $21.00 target price on shares of Luminex in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. Luminex currently has an average rating of Hold and a consensus price target of $20.00.
Shares of Luminex (LMNX) opened at $19.70 on Wednesday. The firm has a market cap of $867.86, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.47 and a beta of 0.19. Luminex has a 12 month low of $17.68 and a 12 month high of $22.42.
Luminex (NASDAQ:LMNX) last announced its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $74.14 million during the quarter, compared to analyst estimates of $74.38 million. Luminex had a net margin of 9.52% and a return on equity of 6.01%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. analysts expect that Luminex will post 0.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, December 21st. Luminex’s payout ratio is 36.36%.
In other news, Director G Walter Loewenbaum II sold 10,503 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $20.61, for a total transaction of $216,466.83. Following the completion of the sale, the director now owns 564,217 shares of the company’s stock, valued at approximately $11,628,512.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 131,698 shares of company stock valued at $2,761,201. Insiders own 6.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. grew its position in shares of Luminex by 8.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock valued at $111,000 after acquiring an additional 405 shares during the period. Sei Investments Co. boosted its holdings in Luminex by 38.7% in the 2nd quarter. Sei Investments Co. now owns 8,245 shares of the medical instruments supplier’s stock worth $174,000 after buying an additional 2,299 shares during the period. First Quadrant L P CA bought a new position in Luminex in the 3rd quarter worth $173,000. SG Americas Securities LLC boosted its holdings in Luminex by 37.4% in the 2nd quarter. SG Americas Securities LLC now owns 9,726 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 2,649 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in Luminex in the 3rd quarter worth $254,000. 79.16% of the stock is owned by hedge funds and other institutional investors.
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Luminex 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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