Point72 Asset Management L.P. cut its position in Luminex Co. (NASDAQ:LMNX) by 72.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,900 shares of the medical instruments supplier’s stock after selling 28,300 shares during the period. Point72 Asset Management L.P.’s holdings in Luminex were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Luminex by 6.4% in 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 during the period. Dimensional Fund Advisors LP boosted its stake in Luminex by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,951,636 shares of the medical instruments supplier’s stock valued at $41,121,000 after purchasing an additional 100,370 shares during the period. Acadian Asset Management LLC boosted its stake in Luminex by 28.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,576,596 shares of the medical instruments supplier’s stock valued at $46,552,000 after purchasing an additional 348,940 shares during the period. Millennium Management LLC boosted its stake in Luminex by 10.4% in the 1st quarter. Millennium Management LLC now owns 1,038,865 shares of the medical instruments supplier’s stock valued at $21,889,000 after purchasing an additional 98,190 shares during the period. Finally, Investment Management of Virginia LLC boosted its stake in Luminex by 3.4% in the 1st quarter. Investment Management of Virginia LLC now owns 982,750 shares of the medical instruments supplier’s stock valued at $20,706,000 after purchasing an additional 32,426 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.
Several analysts recently issued reports on LMNX shares. Citigroup boosted their price target on Luminex from $23.00 to $34.00 and gave the company a “$33.58” rating in a research note on Monday, July 23rd. BidaskClub downgraded Luminex from a “strong-buy” rating to a “buy” rating in a research note on Saturday. ValuEngine downgraded Luminex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Luminex from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, July 9th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $27.00 price target on shares of Luminex in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.60.
Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, August 6th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). The company had revenue of $79.60 million during the quarter, compared to analyst estimates of $79.66 million. Luminex had a net margin of 10.57% and a return on equity of 7.44%. Luminex’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. equities analysts predict that Luminex Co. will post 0.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 21st will be issued a $0.06 dividend. The ex-dividend date is Thursday, September 20th. This represents a $0.24 annualized dividend and a yield of 0.81%. Luminex’s dividend payout ratio is presently 26.37%.
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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