Luminex Co. (NASDAQ:LMNX) Receives $23.67 Consensus Price Target from Brokerages

Shares of Luminex Co. (NASDAQ:LMNX) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.67.

A number of brokerages recently weighed in on LMNX. JPMorgan Chase & Co. lowered shares of Luminex from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $23.00 to $21.00 in a research report on Friday, September 27th. ValuEngine lowered shares of Luminex from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 27th. Zacks Investment Research upgraded shares of Luminex from a “strong sell” rating to a “hold” rating and set a $17.00 target price for the company in a research report on Tuesday, July 9th. Finally, BidaskClub upgraded shares of Luminex from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th.

Shares of NASDAQ LMNX traded down $0.25 during midday trading on Friday, reaching $19.93. The stock had a trading volume of 3,215 shares, compared to its average volume of 160,984. The stock has a 50-day moving average of $20.81 and a 200-day moving average of $21.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.74. The company has a market capitalization of $908.66 million, a price-to-earnings ratio of 41.98 and a beta of 0.80. Luminex has a 12-month low of $19.32 and a 12-month high of $30.40.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 26th were given a dividend of $0.09 per share. This is a positive change from Luminex’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. Luminex’s dividend payout ratio is currently 75.00%.

In related news, CEO Nachum Shamir bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $19.71 per share, for a total transaction of $98,550.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its position in Luminex by 5.4% during the third quarter. Nisa Investment Advisors LLC now owns 20,310 shares of the medical instruments supplier’s stock valued at $419,000 after purchasing an additional 1,034 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Luminex by 126.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,187 shares of the medical instruments supplier’s stock worth $664,000 after acquiring an additional 17,969 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Luminex by 8.5% in the 2nd quarter. Voloridge Investment Management LLC now owns 21,130 shares of the medical instruments supplier’s stock worth $436,000 after acquiring an additional 1,653 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Luminex in the 2nd quarter worth about $10,618,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Luminex by 75.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 25,200 shares of the medical instruments supplier’s stock worth $520,000 after acquiring an additional 10,849 shares during the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.

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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