Luminex Co. to Post FY2018 Earnings of $0.54 Per Share, Jefferies Financial Group Forecasts (LMNX)
Luminex Co. (NASDAQ:LMNX) – Research analysts at Jefferies Financial Group upped their FY2018 earnings per share (EPS) estimates for Luminex in a report issued on Wednesday, November 7th. Jefferies Financial Group analyst B. Couillard now anticipates that the medical instruments supplier will post earnings of $0.54 per share for the year, up from their prior forecast of $0.50. Jefferies Financial Group has a “Hold” rating and a $27.00 price objective on the stock. Jefferies Financial Group also issued estimates for Luminex’s Q4 2018 earnings at $0.09 EPS and Q4 2019 earnings at $0.18 EPS.
Luminex (NASDAQ:LMNX) last issued its earnings results on Monday, November 5th. The medical instruments supplier reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $72.40 million during the quarter, compared to analysts’ expectations of $74.05 million. Luminex had a return on equity of 5.99% and a net margin of 5.65%. Luminex’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS.
Shares of NASDAQ:LMNX opened at $26.34 on Monday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 3.08 and a beta of 0.34. Luminex has a 52 week low of $18.62 and a 52 week high of $35.37.
Institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new stake in Luminex in the 3rd quarter worth $2,291,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Luminex during the 2nd quarter valued at about $1,187,000. BlackRock Inc. boosted its stake in shares of Luminex by 6.4% during the 2nd quarter. BlackRock Inc. now owns 6,593,040 shares of the medical instruments supplier’s stock valued at $194,692,000 after purchasing an additional 395,549 shares in the last quarter. Strs Ohio boosted its stake in shares of Luminex by 89.4% during the 2nd quarter. Strs Ohio now owns 33,900 shares of the medical instruments supplier’s stock valued at $1,001,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Luminex by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 329,799 shares of the medical instruments supplier’s stock valued at $6,949,000 after purchasing an additional 9,050 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.
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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