Insider Selling: Luminex Co. (LMNX) Director Sells $820,035.96 in Stock
Luminex Co. (NASDAQ:LMNX) Director G Walter Loewenbaum II sold 29,994 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $27.34, for a total transaction of $820,035.96. Following the transaction, the director now owns 522,536 shares in the company, valued at approximately $14,286,134.24. The sale was disclosed in a filing with the SEC, which is available at this link.
NASDAQ:LMNX opened at $28.32 on Friday. The firm has a market capitalization of $1.24 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 2.28 and a beta of 0.11. Luminex Co. has a 1-year low of $18.62 and a 1-year high of $28.35.
Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Monday, May 7th. The medical instruments supplier reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. The firm had revenue of $82.60 million for the quarter, compared to analyst estimates of $80.52 million. Luminex had a net margin of 10.60% and a return on equity of 8.07%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. research analysts forecast that Luminex Co. will post 0.75 EPS for the current fiscal year.
LMNX has been the topic of a number of research reports. BidaskClub lowered shares of Luminex from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 27th. ValuEngine upgraded shares of Luminex from a “hold” rating to a “buy” rating in a research note on Tuesday, April 17th. Zacks Investment Research upgraded shares of Luminex from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, May 9th. BTIG Research set a $26.00 price objective on shares of Luminex and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Finally, Deutsche Bank upgraded shares of Luminex from a “sell” rating to a “hold” rating and set a $22.00 price objective on the stock in a research note on Monday, May 7th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.00.
A number of hedge funds have recently added to or reduced their stakes in LMNX. Hancock Holding Co. acquired a new stake in Luminex during the first quarter valued at $7,907,000. Renaissance Technologies LLC grew its position in Luminex by 17.5% during 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 buying an additional 334,900 shares during the period. Millennium Management LLC grew its position in Luminex by 32.0% during the fourth quarter. Millennium Management LLC now owns 940,675 shares of the medical instruments supplier’s stock valued at $18,531,000 after buying an additional 228,008 shares during the period. DAFNA Capital Management LLC grew its position in Luminex by 810.0% during the first quarter. DAFNA Capital Management LLC now owns 227,500 shares of the medical instruments supplier’s stock valued at $4,793,000 after buying an additional 202,500 shares during the period. Finally, Deutsche Bank AG grew its position in Luminex by 83.1% during the fourth quarter. Deutsche Bank AG now owns 312,591 shares of the medical instruments supplier’s stock valued at $6,156,000 after buying an additional 141,907 shares during the period. Institutional investors own 81.88% of the company’s stock.
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, an automated multiplex-capable system.
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