Luminex’s (LMNX) “Market Perform” Rating Reiterated at William Blair
Other equities research analysts have also issued reports about the company. TheStreet upgraded Luminex from a c+ rating to a b- rating in a research report on Wednesday, November 1st. BTIG Research started coverage on Luminex in a research report on Friday, January 5th. They issued a buy rating and a $24.00 price target for the company. Jefferies Group restated a hold rating and issued a $21.00 price target on shares of Luminex in a research report on Friday, October 20th. Finally, BidaskClub upgraded Luminex from a strong sell rating to a sell rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $22.33.
Shares of Luminex (LMNX) opened at $19.38 on Tuesday. Luminex has a 52 week low of $17.68 and a 52 week high of $22.42. The company has a market capitalization of $850.69, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 1.84 and a beta of 0.13.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be given a $0.06 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.24%. Luminex’s dividend payout ratio (DPR) is presently 35.82%.
In other news, Director G Walter Loewenbaum II sold 39,456 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $20.40, for a total value of $804,902.40. Following the completion of the sale, the director now directly owns 651,736 shares in the company, valued at $13,295,414.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 131,698 shares of company stock valued at $2,761,201 over the last 90 days. Company insiders own 6.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in Luminex by 17.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,246,640 shares of the medical instruments supplier’s stock valued at $44,259,000 after acquiring an additional 334,900 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Luminex by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 413,193 shares of the medical instruments supplier’s stock valued at $8,139,000 after acquiring an additional 6,700 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Luminex in the fourth quarter valued at approximately $206,000. BlackRock Inc. lifted its holdings in 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 acquiring an additional 33,557 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Luminex by 17.6% in the fourth quarter. Bank of New York Mellon Corp now owns 677,060 shares of the medical instruments supplier’s stock valued at $13,336,000 after acquiring an additional 101,468 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.
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Luminex Company Profile
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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