Municipal Employees Retirement System of Michigan Boosts Holdings in Luminex Co. (LMNX)
Municipal Employees Retirement System of Michigan boosted its position in shares of Luminex Co. (NASDAQ:LMNX) by 63.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,430 shares of the medical instruments supplier’s stock after buying an additional 6,000 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Luminex were worth $314,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Luminex by 69.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,493 shares of the medical instruments supplier’s stock worth $437,000 after purchasing an additional 8,797 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Luminex by 7.6% during the 3rd quarter. Bessemer Group Inc. now owns 65,000 shares of the medical instruments supplier’s stock worth $1,321,000 after purchasing an additional 4,600 shares during the last quarter. Smith Asset Management Group LP acquired a new position in shares of Luminex during the 3rd quarter worth approximately $2,149,000. Investment Management of Virginia LLC boosted its holdings in shares of Luminex by 9.6% during the 3rd quarter. Investment Management of Virginia LLC now owns 951,144 shares of the medical instruments supplier’s stock worth $19,336,000 after purchasing an additional 83,130 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Luminex by 273.6% during the 3rd quarter. American Century Companies Inc. now owns 47,847 shares of the medical instruments supplier’s stock worth $973,000 after purchasing an additional 35,040 shares during the last quarter. Institutional investors own 79.19% of the company’s stock.
In related news, Director G Walter Loewenbaum II sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $21.79, for a total value of $1,089,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.90% of the company’s stock.
Several research analysts have recently weighed in on LMNX shares. TheStreet upgraded Luminex from a “c+” rating to a “b-” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded Luminex from a “hold” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a report on Thursday, August 24th. Jefferies Group restated a “hold” rating and set a $21.00 target price on shares of Luminex in a report on Friday, October 20th. ValuEngine upgraded Luminex from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Luminex currently has a consensus rating of “Hold” and a consensus target price of $20.00.
Luminex Co. (NASDAQ:LMNX) opened at $20.54 on Monday. Luminex Co. has a twelve month low of $17.68 and a twelve month high of $22.42. The company has a market capitalization of $904.88, a P/E ratio of 35.41, a P/E/G ratio of 2.58 and a beta of 0.19.
Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Luminex had a return on equity of 6.01% and a net margin of 9.52%. The firm had revenue of $74.14 million for the quarter, compared to analysts’ expectations of $74.38 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. research analysts expect that Luminex Co. will post 0.49 EPS for the current fiscal year.
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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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