Luminex (NASDAQ:LMNX) Upgraded at ValuEngine

ValuEngine upgraded shares of Luminex (NASDAQ:LMNX) from a buy rating to a strong-buy rating in a report published on Thursday morning, ValuEngine reports.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Luminex from a strong sell rating to a hold rating and set a $17.00 price objective for the company in a report on Tuesday, July 9th. BidaskClub downgraded shares of Luminex from a hold rating to a sell rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Luminex currently has a consensus rating of Hold and an average price target of $25.00.

LMNX stock opened at $22.59 on Thursday. The company has a market capitalization of $1.02 billion, a P/E ratio of 47.06 and a beta of 0.78. The company has a 50-day simple moving average of $20.74 and a 200 day simple moving average of $21.85. Luminex has a fifty-two week low of $19.41 and a fifty-two week high of $30.73. The company has a quick ratio of 2.45, a current ratio of 3.74 and a debt-to-equity ratio of 0.04.

Luminex (NASDAQ:LMNX) last posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company had revenue of $83.06 million during the quarter, compared to analyst estimates of $81.61 million. Luminex had a negative return on equity of 0.78% and a negative net margin of 0.80%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. Equities analysts anticipate that Luminex will post -0.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $0.36 annualized dividend and a yield of 1.59%. This is an increase from Luminex’s previous quarterly dividend of $0.06. Luminex’s dividend payout ratio is presently 50.00%.

In related news, CEO Nachum Shamir acquired 5,000 shares of Luminex stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $19.71 per share, with a total value of $98,550.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. First National Corp MA ADV lifted its holdings in Luminex by 30.0% in the 1st quarter. First National Corp MA ADV now owns 2,600 shares of the medical instruments supplier’s stock valued at $60,000 after acquiring an additional 600 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Luminex by 68.3% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the medical instruments supplier’s stock valued at $171,000 after acquiring an additional 3,356 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Luminex by 790.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock valued at $223,000 after acquiring an additional 8,617 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in Luminex by 7.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,695 shares of the medical instruments supplier’s stock valued at $246,000 after acquiring an additional 695 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in Luminex by 42.6% in the 2nd quarter. WINTON GROUP Ltd now owns 13,314 shares of the medical instruments supplier’s stock valued at $275,000 after acquiring an additional 3,976 shares during the last quarter. 79.78% of the stock is owned by institutional investors.

About Luminex

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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.

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