LumiraDx (NASDAQ:LMDX) Receives “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of LumiraDx (NASDAQ:LMDX – Get Rating) in a report published on Friday, TipRanks reports. BTIG Research currently has a $8.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Raymond James decreased their target price on LumiraDx from $13.00 to $9.00 and set an outperform rating on the stock in a research report on Friday, March 11th. LADENBURG THALM/SH SH decreased their target price on LumiraDx from $15.25 to $14.00 in a research report on Thursday. Finally, Zacks Investment Research upgraded LumiraDx from a sell rating to a hold rating in a research report on Wednesday.

Shares of NASDAQ LMDX traded up $0.03 during mid-day trading on Friday, reaching $3.88. The company had a trading volume of 26,181 shares, compared to its average volume of 66,049. The company has a quick ratio of 1.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.85. LumiraDx has a one year low of $3.46 and a one year high of $11.09. The business’s 50-day simple moving average is $5.63 and its 200 day simple moving average is $7.72.

LumiraDx (NASDAQ:LMDX – Get Rating) last issued its quarterly earnings results on Thursday, March 10th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $118.25 million during the quarter, compared to the consensus estimate of $119.00 million. Sell-side analysts forecast that LumiraDx will post -0.65 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in LMDX. Bill & Melinda Gates Foundation bought a new stake in shares of LumiraDx during the third quarter worth about $46,100,000. Senvest Management LLC bought a new stake in shares of LumiraDx during the third quarter worth about $7,571,000. Account Management LLC bought a new stake in shares of LumiraDx during the fourth quarter worth about $2,648,000. Moore Capital Management LP bought a new stake in shares of LumiraDx during the third quarter worth about $1,028,000. Finally, Omni Partners US LLC bought a new stake in shares of LumiraDx during the third quarter worth about $795,000.

About LumiraDx (Get Rating)

LumiraDx Limited operates as a point of care diagnostic company. It focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. The company was formerly known as Point of Care Testing Limited and changed its name to LumiraDx Ltd in January 2018.

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