Shares of Luminex Co. (NASDAQ:LMNX) have been given a consensus rating of “Buy” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.33.
LMNX has been the subject of a number of recent analyst reports. BidaskClub cut shares of Luminex from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 24th. BTIG Research initiated coverage on shares of Luminex in a report on Friday, January 5th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, William Blair reissued a “market perform” rating on shares of Luminex in a research note on Tuesday, February 13th.
In other news, Director G Walter Loewenbaum II sold 10,503 shares of the business’s stock in a transaction dated 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 $11,628,512.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in LMNX. Creative Planning acquired a new position in Luminex in the 4th quarter valued at about $198,000. UBS Asset Management Americas Inc. acquired a new position in shares of Luminex in the 4th quarter worth approximately $206,000. Crossmark Global Holdings Inc. acquired a new position in shares of Luminex in the 3rd quarter worth approximately $254,000. Teacher Retirement System of Texas acquired a new position in shares of Luminex in the 4th quarter worth approximately $270,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Luminex by 63.6% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,430 shares of the medical instruments supplier’s stock worth $314,000 after acquiring an additional 6,000 shares during the last quarter. 81.33% of the stock is owned by institutional investors and hedge funds.
Luminex (LMNX) traded up $0.09 on Friday, reaching $21.48. 502,287 shares of the company’s stock were exchanged, compared to its average volume of 328,840. Luminex has a one year low of $17.70 and a one year high of $22.42. The stock has a market capitalization of $943.83, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.05 and a beta of 0.16.
Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Monday, February 12th. The medical instruments supplier reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. Luminex had a net margin of 9.48% and a return on equity of 8.48%. The company had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $77.33 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. analysts predict that Luminex will post 0.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, March 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.12%. Luminex’s dividend payout ratio is currently 35.82%.
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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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