Lumexa Imaging (NASDAQ:LMRI) Shares Gap Up on Better-Than-Expected Earnings

Lumexa Imaging Holdings, Inc. (NASDAQ:LMRI) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $13.92, but opened at $15.25. Lumexa Imaging shares last traded at $15.9720, with a volume of 92,913 shares.

The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.19. The firm had revenue of $271.97 million during the quarter.

Top Lumexa Imaging Stories

Here are a few of the latest stories about LMRI:

• Positive Sentiment: Several reports described Q3 EPS as beating expectations: one cited $0.26 per share versus a $0.07 consensus, while another reported a 4-cent beat. An earnings article also highlighted interest costs being cut roughly in half, which may have helped earnings. StreetInsider Q3 results Q3 earnings and interest costs
• Positive Sentiment: Revenue increased 5% year over year to about $272 million, gross profit rose 16.9%, and operating cash flow climbed to $34.8 million from a year earlier. These trends point to improved revenue and cash generation. Q3 financial details
• Negative Sentiment: Results were not uniformly strong: one financial summary lists diluted EPS of $0.07 against a $0.19 estimate, revenue slightly below its $275.3 million estimate, and operating profit down 7.3% year over year. The differing EPS figures across reports make the earnings comparison less clear. Financial summary

Analyst Upgrades and Downgrades

LMRI has been the topic of a number of recent research reports. UBS Group reiterated a “strong-buy” rating on shares of Lumexa Imaging in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Lumexa Imaging in a research note on Thursday, August 13th. Truist Financial initiated coverage on shares of Lumexa Imaging in a report on Monday, October 5th. They set a “buy” rating and a $18.00 price objective for the company. KeyCorp assumed coverage on shares of Lumexa Imaging in a research report on Thursday, September 24th. They set an “overweight” rating and a $18.00 target price on the stock. Finally, Wall Street Zen raised shares of Lumexa Imaging from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $16.40.

Institutional Trading of Lumexa Imaging

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Lumexa Imaging by 1,855,116.7% in the 1st quarter. Bank of America Corp DE now owns 111,313 shares of the company’s stock worth $957,000 after purchasing an additional 111,307 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Lumexa Imaging during the first quarter worth $778,000. BlackRock Inc. bought a new stake in Lumexa Imaging in the second quarter valued at about $15,771,000. Brigade Capital Management LP bought a new stake in Lumexa Imaging in the second quarter valued at about $7,511,000. Finally, Janus Henderson Group PLC lifted its stake in Lumexa Imaging by 5.4% in the first quarter. Janus Henderson Group PLC now owns 2,100,356 shares of the company’s stock valued at $18,063,000 after buying an additional 107,903 shares during the period.

Lumexa Imaging Stock Up 14.4%

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $1.53 billion and a price-to-earnings ratio of -32.41. The firm has a 50 day simple moving average of $11.24 and a two-hundred day simple moving average of $11.07.

Lumexa Imaging Company Profile

Lumexa Imaging operates outpatient diagnostic imaging centers that provide radiology services to patients, referring physicians and healthcare providers. Its services include imaging used to help diagnose and monitor a range of medical conditions. The company offers diagnostic procedures such as MRI, CT, PET/CT, mammography, ultrasound and X-ray through its imaging centers and affiliated radiology practices. Lumexa serves communities across the United States, providing an outpatient option for medical imaging outside of a hospital setting.