Luminex Corporation (LMNX) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS
Luminex Corporation (NASDAQ:LMNX) posted its earnings results on Monday. The medical instruments supplier reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.11, Morningstar.com reports. Luminex Corporation had a net margin of 5.00% and a return on equity of 5.48%. The business had revenue of $76.50 million for the quarter, compared to analyst estimates of $75.45 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year.
Shares of Luminex Corporation (NASDAQ LMNX) traded up 3.73% on Tuesday, reaching $20.60. 37,847 shares of the company traded hands. The firm’s 50 day moving average is $20.77 and its 200 day moving average is $19.64. Luminex Corporation has a one year low of $17.64 and a one year high of $23.62. The company has a market capitalization of $904.88 million, a P/E ratio of 63.98 and a beta of 0.29.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 23rd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.24 annualized dividend and a yield of 1.21%. Luminex Corporation’s dividend payout ratio (DPR) is 75.00%.
In other news, Director G Walter Loewenbaum II sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $20.07, for a total value of $501,750.00. Following the completion of the transaction, the director now owns 713,896 shares in the company, valued at $14,327,892.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 75,000 shares of company stock valued at $1,527,500 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its position in Luminex Corporation by 27.1% in the fourth quarter. Guggenheim Capital LLC now owns 73,057 shares of the medical instruments supplier’s stock valued at $1,478,000 after buying an additional 15,566 shares in the last quarter. Norges Bank acquired a new position in Luminex Corporation during the fourth quarter valued at $10,841,000. Teachers Advisors LLC boosted its position in Luminex Corporation by 30.7% in the fourth quarter. Teachers Advisors LLC now owns 83,539 shares of the medical instruments supplier’s stock valued at $1,690,000 after buying an additional 19,610 shares in the last quarter. Creative Planning boosted its position in Luminex Corporation by 5.4% in the first quarter. Creative Planning now owns 9,256 shares of the medical instruments supplier’s stock valued at $170,000 after buying an additional 474 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. boosted its position in Luminex Corporation by 13.9% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 401,398 shares of the medical instruments supplier’s stock valued at $7,373,000 after buying an additional 48,957 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.
Several research firms have recently weighed in on LMNX. ValuEngine raised shares of Luminex Corporation from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Zacks Investment Research downgraded shares of Luminex Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 17th. Jefferies Group LLC reiterated a “hold” rating and set a $21.00 price target on shares of Luminex Corporation in a research report on Friday, June 9th. TheStreet upgraded shares of Luminex Corporation from a “c+” rating to a “b-” rating in a research report on Friday, May 19th. Finally, BidaskClub downgraded shares of Luminex Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $21.67.
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About Luminex Corporation
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.
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