Luminex Co. (NASDAQ:LMNX) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,741,856 shares, a drop of 44.1% from the May 15th total of 3,113,587 shares. Based on an average trading volume of 522,399 shares, the days-to-cover ratio is currently 3.3 days. Approximately 4.2% of the shares of the company are sold short.
In other news, SVP Todd C. Bennett sold 2,235 shares of the stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $25.95, for a total value of $57,998.25. Following the completion of the transaction, the senior vice president now directly owns 21,309 shares of the company’s stock, valued at approximately $552,968.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director G Walter Loewenbaum II sold 3,203 shares of the stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $30.91, for a total value of $99,004.73. Following the completion of the transaction, the director now directly owns 531,948 shares of the company’s stock, valued at $16,442,512.68. The disclosure for this sale can be found here. Insiders sold a total of 54,699 shares of company stock valued at $1,511,496 in the last quarter. Corporate insiders own 7.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. TIAA CREF Investment Management LLC lifted its holdings in Luminex by 13.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 171,201 shares of the medical instruments supplier’s stock worth $3,373,000 after acquiring an additional 20,609 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Luminex by 0.6% in the fourth quarter. BlackRock Inc. now owns 6,117,732 shares of the medical instruments supplier’s stock valued at $120,518,000 after purchasing an additional 33,557 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Luminex by 83.1% in the fourth quarter. Deutsche Bank AG now owns 312,591 shares of the medical instruments supplier’s stock valued at $6,156,000 after purchasing an additional 141,907 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Luminex by 50.7% in the fourth quarter. First Trust Advisors LP now owns 23,837 shares of the medical instruments supplier’s stock valued at $470,000 after purchasing an additional 8,024 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Luminex by 491.3% in the fourth quarter. Pinebridge Investments L.P. now owns 30,078 shares of the medical instruments supplier’s stock valued at $593,000 after purchasing an additional 24,991 shares in the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.
A number of equities research analysts recently weighed in on LMNX shares. ValuEngine cut Luminex from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Luminex from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, May 9th. BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. BTIG Research set a $26.00 target price on Luminex and gave the company a “buy” rating in a research note on Tuesday, May 8th. Finally, Deutsche Bank raised Luminex from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a research note on Monday, May 7th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.00.
Luminex opened at $30.62 on Friday, MarketBeat.com reports. Luminex has a 12-month low of $18.62 and a 12-month high of $30.95. The firm has a market capitalization of $1.37 billion, a PE ratio of 33.65, a P/E/G ratio of 2.53 and a beta of 0.16.
Luminex (NASDAQ:LMNX) last posted its quarterly earnings results on Monday, May 7th. The medical instruments supplier reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.08. The business had revenue of $82.60 million for the quarter, compared to analyst estimates of $80.52 million. Luminex had a return on equity of 8.07% and a net margin of 10.60%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. research analysts anticipate that Luminex will post 0.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 22nd will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, June 21st. This represents a $0.24 annualized dividend and a yield of 0.78%. Luminex’s dividend payout ratio is presently 26.37%.
Luminex Company Profile
Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, an automated multiplex-capable system.
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