Luminex Corporation (NASDAQ:LMNX) – Investment analysts at Jefferies Group boosted their FY2017 earnings per share estimates for Luminex Corporation in a research note issued on Thursday. Jefferies Group analyst B. Couillard now anticipates that the medical instruments supplier will earn $0.49 per share for the year, up from their previous estimate of $0.40. Jefferies Group has a “Hold” rating and a $21.00 price target on the stock. Jefferies Group also issued estimates for Luminex Corporation’s Q3 2018 earnings at $0.14 EPS and FY2019 earnings at $0.67 EPS.
Luminex Corporation (NASDAQ:LMNX) last announced its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Luminex Corporation had a net margin of 9.52% and a return on equity of 6.01%. The business had revenue of $74.14 million during the quarter, compared to the consensus estimate of $74.38 million. During the same quarter last year, the firm earned $0.21 earnings per share. Luminex Corporation’s quarterly revenue was up 4.1% on a year-over-year basis.
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Several other equities research analysts also recently weighed in on LMNX. BidaskClub downgraded shares of Luminex Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. TheStreet downgraded shares of Luminex Corporation from a “b” rating to a “c+” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Thursday, August 24th. Finally, ValuEngine raised shares of Luminex Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.00.
Shares of Luminex Corporation (LMNX) opened at $21.28 on Monday. Luminex Corporation has a 52 week low of $17.68 and a 52 week high of $22.27. The firm has a market cap of $923.82, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.18.
A number of institutional investors have recently added to or reduced their stakes in LMNX. JPMorgan Chase & Co. boosted its holdings in Luminex Corporation by 820.6% during the first quarter. JPMorgan Chase & Co. now owns 38,426 shares of the medical instruments supplier’s stock worth $706,000 after purchasing an additional 34,252 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in Luminex Corporation during the first quarter worth about $218,000. Teachers Advisors LLC boosted its holdings in Luminex Corporation by 4.7% during the first quarter. Teachers Advisors LLC now owns 87,489 shares of the medical instruments supplier’s stock worth $1,607,000 after purchasing an additional 3,950 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Luminex Corporation by 4.4% during the first quarter. Vanguard Group Inc. now owns 3,446,060 shares of the medical instruments supplier’s stock worth $63,304,000 after purchasing an additional 144,813 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Luminex Corporation by 11.4% during the first quarter. Geode Capital Management LLC now owns 389,903 shares of the medical instruments supplier’s stock worth $7,162,000 after purchasing an additional 39,923 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.
In related news, Director Robert J. Cresci sold 19,631 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $18.98, for a total transaction of $372,596.38. Following the transaction, the director now directly owns 260,358 shares in the company, valued at $4,941,594.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.
Luminex Corporation 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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