Luminex (LMNX) Lifted to “Buy” at BidaskClub

Luminex (NASDAQ:LMNX) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price objective on shares of Luminex in a research note on Tuesday, August 7th. ValuEngine raised shares of Luminex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Zacks Investment Research downgraded shares of Luminex from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Citigroup increased their price objective on shares of Luminex from $23.00 to $34.00 and gave the company a “$33.58” rating in a research note on Monday, July 23rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.60.

NASDAQ:LMNX traded up $0.48 on Wednesday, hitting $29.41. The company had a trading volume of 5,044 shares, compared to its average volume of 264,780. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.25 and a beta of 0.25. Luminex has a 52 week low of $18.62 and a 52 week high of $35.37.

Luminex (NASDAQ:LMNX) last issued its quarterly earnings data on Monday, August 6th. The medical instruments supplier reported $0.15 EPS 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 the consensus estimate of $79.66 million. Luminex had a net margin of 10.57% and a return on equity of 7.44%. Luminex’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. As a group, equities analysts predict that Luminex will post 0.58 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of LMNX. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Luminex during the second quarter worth $207,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Luminex during the second quarter worth $214,000. Cubist Systematic Strategies LLC increased its position in shares of Luminex by 7,572.6% during the second quarter. Cubist Systematic Strategies LLC now owns 7,289 shares of the medical instruments supplier’s stock worth $215,000 after buying an additional 7,194 shares during the period. OppenheimerFunds Inc. acquired a new stake in shares of Luminex during the second quarter worth $231,000. Finally, Meeder Asset Management Inc. increased its position in shares of Luminex by 1,278.2% during the second quarter. Meeder Asset Management Inc. now owns 8,076 shares of the medical instruments supplier’s stock worth $238,000 after buying an additional 7,490 shares during the period. Institutional investors own 82.22% of the company’s stock.

Luminex Company Profile

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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