Luminex Corp. (LMNX) Receives New Coverage from Analysts at Avondale Partners
Stock analysts at Avondale Partners began coverage on shares of Luminex Corp. (NASDAQ:LMNX) in a research report issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Luminex Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Jefferies Group boosted their target price on Luminex Corp. from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. raised Luminex Corp. from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $18.00 to $22.00 in a report on Thursday, August 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.20.
Shares of Luminex Corp. (NASDAQ:LMNX) opened at 22.89 on Wednesday. The company has a market cap of $996.81 million, a PE ratio of 23.89 and a beta of 0.42. The company has a 50-day moving average of $21.99 and a 200 day moving average of $20.95. Luminex Corp. has a 12 month low of $17.29 and a 12 month high of $23.75.
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Luminex Corp. (NASDAQ:LMNX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.15 by $0.18. The company had revenue of $64.20 million for the quarter, compared to analyst estimates of $61.20 million. Luminex Corp. had a return on equity of 13.65% and a net margin of 16.60%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts anticipate that Luminex Corp. will post $0.63 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in Luminex Corp. by 116.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,491 shares of the company’s stock worth $253,000 after buying an additional 6,709 shares during the period. Magnetar Financial LLC acquired a new stake in Luminex Corp. during the first quarter worth $238,000. Renaissance Technologies LLC increased its stake in Luminex Corp. by 19.1% in the first quarter. Renaissance Technologies LLC now owns 1,007,840 shares of the company’s stock worth $19,552,000 after buying an additional 161,800 shares during the period. RGM Capital LLC increased its stake in Luminex Corp. by 15.8% in the first quarter. RGM Capital LLC now owns 1,645,903 shares of the company’s stock worth $31,931,000 after buying an additional 225,055 shares during the period. Finally, Hancock Holding Co. increased its stake in Luminex Corp. by 0.9% in the first quarter. Hancock Holding Co. now owns 420,355 shares of the company’s stock worth $8,155,000 after buying an additional 3,740 shares during the period. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Luminex Corp. Company Profile
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company has a range of instruments using its xMAP technology, including its LUMINEX 100/200 systems offer 100-plex testing; the Company’s FLEXMAP 3D system is its high-throughput, 500-plex testing system, and its MAGPIX system provides 50-plex testing using imaging rather than flow cytometry.
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