Zacks Investment Research downgraded shares of Luminex (NASDAQ:LMNX) from a hold rating to a strong sell rating in a report published on Monday, Zacks.com reports. The brokerage currently has $22.00 price objective on the medical instruments supplier’s stock.
According to Zacks, “Luminex continues to gain from its flagship ARIES and VERIGENE platforms. Systems sales and Royalty revenues improved significantly in recent times. Management is also optimistic about the recent acquisition of MilliporeSigma’s flow cytometry asset. Additionally, the company begins 2019 with a robust pipeline, which is likely to diversify customer base. Impressive guidance for the second quarter of 2019 is indicative of brighter prospects. On the flip side, Luminex exited the first quarter on a dismal note. Luminex’s quarterly earnings have fallen on a year-over-year basis in recent times. Assay and molecular diagnostic revenues have also declined recently. Contraction in gross margin adds to woes. The stock is overvalued at the moment and has underperformed the industry in a year’s time.”
Several other equities analysts have also weighed in on the stock. William Blair reaffirmed a market perform rating on shares of Luminex in a research report on Tuesday, May 7th. BidaskClub lowered shares of Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $25.67.
NASDAQ LMNX opened at $19.89 on Monday. The stock has a 50 day moving average of $20.92. The company has a quick ratio of 2.70, a current ratio of 3.99 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $925.63 million, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 19.06 and a beta of 0.75. Luminex has a 52-week low of $19.73 and a 52-week high of $35.37.
Luminex (NASDAQ:LMNX) last issued its quarterly earnings data on Monday, May 6th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.14). The business had revenue of $82.41 million for the quarter, compared to the consensus estimate of $83.10 million. Luminex had a net margin of 2.55% and a return on equity of 1.62%. Luminex’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, equities research analysts predict that Luminex will post 0.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Thursday, June 20th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, June 19th. Luminex’s payout ratio is presently 50.00%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc acquired a new position in Luminex during the fourth quarter valued at approximately $39,000. First National Corp MA ADV grew its holdings in Luminex by 30.0% during the first quarter. First National Corp MA ADV now owns 2,600 shares of the medical instruments supplier’s stock valued at $60,000 after purchasing an additional 600 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Luminex by 32.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,500 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 1,100 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Luminex by 11.1% during the first quarter. Meeder Asset Management Inc. now owns 4,925 shares of the medical instruments supplier’s stock valued at $113,000 after purchasing an additional 491 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Luminex by 790.6% during the first quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock valued at $223,000 after purchasing an additional 8,617 shares during the last quarter. 84.66% of the stock is currently owned by hedge funds and other institutional investors.
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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.
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