Luminex (LMNX) Downgraded by BidaskClub to Sell
BidaskClub cut shares of Luminex (NASDAQ:LMNX) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
Several other equities analysts also recently weighed in on LMNX. ValuEngine upgraded Luminex from a sell rating to a hold rating in a research report on Wednesday, September 6th. Jefferies Group restated a hold rating and issued a $21.00 target price on shares of Luminex in a research report on Friday, October 20th. Zacks Investment Research upgraded Luminex from a hold rating to a strong-buy rating and set a $22.00 target price on the stock in a research report on Thursday, August 24th. Finally, TheStreet upgraded Luminex from a c+ rating to a b- rating in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $20.00.
Luminex (LMNX) traded down $0.01 during midday trading on Wednesday, hitting $20.55. The stock had a trading volume of 109,600 shares, compared to its average volume of 199,494. The stock has a market capitalization of $905.76, a P/E ratio of 35.45, a PEG ratio of 2.58 and a beta of 0.19. Luminex has a 1-year low of $17.68 and a 1-year high of $22.42.
Luminex (NASDAQ:LMNX) last released its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. The business had revenue of $74.14 million for the quarter, compared to the consensus estimate of $74.38 million. Luminex had a return on equity of 6.01% and a net margin of 9.52%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. research analysts forecast that Luminex will post 0.49 earnings per share for the current fiscal year.
In related news, Director G Walter Loewenbaum II sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $21.79, for a total value of $1,089,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Algert Global LLC increased its holdings in shares of Luminex by 18.2% in the third quarter. Algert Global LLC now owns 129,997 shares of the medical instruments supplier’s stock valued at $2,643,000 after purchasing an additional 20,043 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Luminex by 9.6% during the third quarter. Neuberger Berman Group LLC now owns 1,015,916 shares of the medical instruments supplier’s stock worth $20,654,000 after acquiring an additional 89,141 shares during the last quarter. OxFORD Asset Management LLP increased its stake in Luminex by 4.3% during the third quarter. OxFORD Asset Management LLP now owns 194,526 shares of the medical instruments supplier’s stock worth $3,937,000 after acquiring an additional 7,964 shares during the last quarter. Elk Creek Partners LLC increased its stake in Luminex by 13.6% during the third quarter. Elk Creek Partners LLC now owns 871,429 shares of the medical instruments supplier’s stock worth $17,716,000 after acquiring an additional 104,494 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Luminex by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,819,417 shares of the medical instruments supplier’s stock worth $36,989,000 after acquiring an additional 61,437 shares during the last quarter. 79.04% of the stock is owned by hedge funds and other institutional investors.
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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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