Zacks: Analysts Expect Luminex Corporation (LMNX) Will Post Quarterly Sales of $74.33 Million
Analysts predict that Luminex Corporation (NASDAQ:LMNX) will report sales of $74.33 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Luminex Corporation’s earnings, with the lowest sales estimate coming in at $74.09 million and the highest estimate coming in at $74.57 million. Luminex Corporation posted sales of $71.22 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The company is expected to issue its next quarterly earnings report on Monday, October 30th.
According to Zacks, analysts expect that Luminex Corporation will report full-year sales of $74.33 million for the current year, with estimates ranging from $303.02 million to $306.66 million. For the next financial year, analysts forecast that the company will report sales of $315.69 million per share, with estimates ranging from $298.40 million to $330.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Luminex Corporation.
Luminex Corporation (NASDAQ:LMNX) last posted its quarterly earnings results on Monday, August 7th. The medical instruments supplier reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $75.45 million. Luminex Corporation had a return on equity of 4.81% and a net margin of 4.72%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS.
A number of equities analysts recently commented on the stock. BidaskClub downgraded shares of Luminex Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. TheStreet downgraded shares of Luminex Corporation from a “b” rating to a “c+” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of Luminex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Monday, July 17th. ValuEngine downgraded shares of Luminex Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $21.00 price objective on shares of Luminex Corporation in a research note on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.67.
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In other Luminex Corporation news, Director G Walter Loewenbaum II sold 25,000 shares of Luminex Corporation stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $20.07, for a total value of $501,750.00. Following the transaction, the director now directly owns 713,896 shares of the company’s stock, valued at $14,327,892.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised 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 worth $110,000 after buying an additional 582 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Luminex Corporation by 8.3% in the second quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock worth $111,000 after buying an additional 405 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Luminex Corporation by 6.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,780 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 489 shares during the period. Mason Street Advisors LLC raised its stake in shares of Luminex Corporation by 0.5% in the first quarter. Mason Street Advisors LLC now owns 8,713 shares of the medical instruments supplier’s stock worth $160,000 after buying an additional 46 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Luminex Corporation by 92.1% in the second quarter. State of Alaska Department of Revenue now owns 7,895 shares of the medical instruments supplier’s stock worth $166,000 after buying an additional 3,785 shares during the period. 73.36% of the stock is currently owned by institutional investors and hedge funds.
Luminex Corporation (NASDAQ LMNX) traded down 0.32% during mid-day trading on Friday, hitting $18.95. The company had a trading volume of 138,221 shares. Luminex Corporation has a 1-year low of $17.64 and a 1-year high of $23.62. The firm has a market capitalization of $835.15 million, a PE ratio of 58.67 and a beta of 0.29. The company has a 50 day moving average of $20.37 and a 200 day moving average of $19.62.
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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