Luminex (LMNX) Downgraded to Sell at BidaskClub
BidaskClub cut shares of Luminex (NASDAQ:LMNX) from a hold rating to a sell rating in a research report sent to investors on Thursday.
Other analysts also recently issued research reports about the company. TheStreet raised Luminex from a c+ rating to a b- rating in a research note on Wednesday, November 1st. BTIG Research started coverage on Luminex in a research note on Friday, January 5th. They set a buy rating and a $24.00 target price on the stock. Finally, William Blair reissued a market perform rating on shares of Luminex in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Luminex currently has an average rating of Hold and an average target price of $22.33.
Shares of Luminex (NASDAQ:LMNX) traded up $0.04 on Thursday, reaching $19.42. The company had a trading volume of 147,719 shares, compared to its average volume of 343,828. The company has a market cap of $856.91, a P/E ratio of 28.99, a PEG ratio of 1.86 and a beta of 0.16. Luminex has a 52 week low of $17.68 and a 52 week high of $22.42.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, March 22nd. Luminex’s dividend payout ratio (DPR) is presently 35.82%.
In other Luminex news, Director G Walter Loewenbaum II sold 39,456 shares of Luminex stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $20.40, for a total value of $804,902.40. Following the sale, the director now owns 651,736 shares of the company’s stock, valued at approximately $13,295,414.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 81,698 shares of company stock worth $1,671,701 in the last three months. 6.90% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. First Quadrant L P CA bought a new stake in Luminex in the 3rd quarter worth approximately $173,000. Creative Planning bought a new stake in Luminex in the 4th quarter worth approximately $198,000. UBS Asset Management Americas Inc. bought a new stake in Luminex in the 4th quarter worth approximately $206,000. Crossmark Global Holdings Inc. bought a new stake in Luminex in the 3rd quarter worth approximately $254,000. Finally, Teacher Retirement System of Texas bought a new stake in Luminex in the 4th quarter worth approximately $270,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.
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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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