Luminex Corporation (NASDAQ:LMNX) Downgraded by TheStreet to C+
Luminex Corporation (NASDAQ:LMNX) was downgraded by TheStreet from a “b” rating to a “c+” rating in a report issued on Monday.
Several other analysts also recently weighed in on LMNX. BidaskClub downgraded Luminex Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Luminex Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Monday, July 17th. ValuEngine downgraded Luminex Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $21.00 target price on shares of Luminex Corporation in a research note on Friday, June 9th. Three research 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 presently has an average rating of “Hold” and a consensus target price of $21.67.
Shares of Luminex Corporation (LMNX) opened at 20.31 on Monday. The stock has a 50 day moving average price of $20.75 and a 200-day moving average price of $19.65. Luminex Corporation has a 52 week low of $17.64 and a 52 week high of $23.62. The firm has a market capitalization of $892.14 million, a PE ratio of 63.07 and a beta of 0.29.
Luminex Corporation (NASDAQ:LMNX) last released its quarterly earnings data on Monday, August 7th. The medical instruments supplier reported $0.20 EPS for the quarter, beating the consensus estimate of $0.09 by $0.11. Luminex Corporation had a return on equity of 4.85% and a net margin of 4.72%. The company had revenue of $76.50 million for the quarter, compared to analyst estimates of $75.45 million. During the same period last year, the company posted $0.33 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. Equities analysts anticipate that Luminex Corporation will post $0.52 earnings per share for the current year.
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In other Luminex Corporation news, Director G Walter Loewenbaum II sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $20.23, for a total transaction of $505,750.00. Following the completion of the transaction, the director now owns 738,896 shares of the company’s stock, valued at approximately $14,947,866.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 75,000 shares of company stock valued at $1,527,500. 6.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC raised its position in shares of Luminex Corporation by 33,173.3% in the third quarter. ClariVest Asset Management LLC now owns 4,991 shares of the medical instruments supplier’s stock worth $113,000 after buying an additional 4,976 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Luminex Corporation by 37.7% in the third quarter. Victory Capital Management Inc. now owns 5,120 shares of the medical instruments supplier’s stock valued at $116,000 after buying an additional 1,401 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Luminex Corporation by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,429 shares of the medical instruments supplier’s stock valued at $110,000 after buying an additional 659 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Luminex Corporation by 10.9% in the first quarter. Sei Investments Co. now owns 5,946 shares of the medical instruments supplier’s stock valued at $110,000 after buying an additional 582 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in shares of Luminex Corporation during the second quarter valued at $153,000. 74.41% of the stock is owned by institutional investors and hedge funds.
Luminex Corporation Company Profile
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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