Luminex Co. (NASDAQ:LMNX) – Equities research analysts at Jefferies Financial Group reduced their FY2019 earnings estimates for shares of Luminex in a research report issued on Tuesday, November 5th. Jefferies Financial Group analyst B. Couillard now anticipates that the medical instruments supplier will post earnings of ($0.28) per share for the year, down from their previous forecast of ($0.16). Jefferies Financial Group also issued estimates for Luminex’s Q3 2020 earnings at ($0.06) EPS and FY2020 earnings at $0.03 EPS.
Luminex (NASDAQ:LMNX) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). The firm had revenue of $78.67 million for the quarter, compared to the consensus estimate of $81.75 million. Luminex had a negative return on equity of 2.38% and a negative net margin of 2.93%. Luminex’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share.
Several other analysts have also recently weighed in on the stock. BidaskClub cut shares of Luminex from a “hold” rating to a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. cut shares of Luminex from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $23.00 to $21.00 in a research note on Friday, September 27th. Finally, ValuEngine cut shares of Luminex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Luminex currently has an average rating of “Hold” and a consensus target price of $19.00.
Shares of Luminex stock opened at $18.36 on Friday. The company has a current ratio of 3.52, a quick ratio of 2.45 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $815.80 million, a price-to-earnings ratio of 38.25 and a beta of 0.80. Luminex has a 1-year low of $17.34 and a 1-year high of $30.16. The firm’s 50-day moving average price is $20.41 and its two-hundred day moving average price is $20.91.
Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Luminex by 68.3% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the medical instruments supplier’s stock worth $171,000 after purchasing an additional 3,356 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Luminex by 42.6% during the 2nd quarter. WINTON GROUP Ltd now owns 13,314 shares of the medical instruments supplier’s stock valued at $275,000 after purchasing an additional 3,976 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of Luminex by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 18,055 shares of the medical instruments supplier’s stock valued at $373,000 after purchasing an additional 1,419 shares during the last quarter. Pitcairn Co. grew its holdings in shares of Luminex by 32.4% during the 2nd quarter. Pitcairn Co. now owns 18,337 shares of the medical instruments supplier’s stock valued at $378,000 after purchasing an additional 4,483 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Luminex by 5.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 20,310 shares of the medical instruments supplier’s stock valued at $419,000 after purchasing an additional 1,034 shares during the last quarter. Institutional investors own 79.59% of the company’s stock.
In related news, CEO Nachum Shamir bought 5,000 shares of Luminex stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $19.71 per share, for a total transaction of $98,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director G Walter Loewenbaum II bought 45,000 shares of Luminex stock in a transaction dated Thursday, November 7th. The shares were bought at an average price of $17.88 per share, for a total transaction of $804,600.00. The disclosure for this purchase can be found here. 8.70% of the stock is currently owned by corporate insiders.
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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.
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