Luminex Co. (NASDAQ:LMNX) Receives $19.00 Consensus Target Price from Brokerages

Luminex Co. (NASDAQ:LMNX) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.00.

LMNX has been the topic of a number of research reports. BidaskClub downgraded Luminex from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine downgraded Luminex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. downgraded Luminex from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $23.00 to $21.00 in a report on Friday, September 27th.

NASDAQ:LMNX traded up $0.14 during trading hours on Thursday, hitting $18.36. The company’s stock had a trading volume of 175,600 shares, compared to its average volume of 256,731. The business’s 50-day moving average is $20.41 and its two-hundred day moving average is $20.91. The company has a market capitalization of $815.80 million, a PE ratio of 38.25 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.52. Luminex has a 52-week low of $17.34 and a 52-week high of $30.16.

Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). The firm had revenue of $78.67 million during the quarter, compared to analysts’ expectations of $81.75 million. Luminex had a negative return on equity of 2.38% and a negative net margin of 2.93%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. As a group, analysts predict that Luminex will post -0.26 EPS for the current fiscal year.

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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 shares were acquired at an average cost of $19.71 per share, for a total transaction of $98,550.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Walter Loewenbaum II bought 45,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were bought at an average price of $17.88 per share, for a total transaction of $804,600.00. The disclosure for this purchase can be found here. Company insiders own 8.70% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC raised its holdings in shares of Luminex by 23.9% during the 3rd quarter. Great Lakes Advisors LLC now owns 186,176 shares of the medical instruments supplier’s stock valued at $3,845,000 after buying an additional 35,854 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Luminex by 1,177.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 67,440 shares of the medical instruments supplier’s stock valued at $1,393,000 after buying an additional 62,160 shares during the period. SG Americas Securities LLC raised its holdings in shares of Luminex by 190.0% during the 3rd quarter. SG Americas Securities LLC now owns 22,252 shares of the medical instruments supplier’s stock valued at $460,000 after buying an additional 14,580 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of Luminex during the 3rd quarter valued at about $1,116,000. Finally, California Public Employees Retirement System raised its holdings in shares of Luminex by 13.5% during the 3rd quarter. California Public Employees Retirement System now owns 77,774 shares of the medical instruments supplier’s stock valued at $1,606,000 after buying an additional 9,232 shares during the period. Institutional investors and hedge funds own 79.59% 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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.

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