$74.22 Million in Sales Expected for Luminex Corporation (LMNX) This Quarter
Wall Street analysts expect that Luminex Corporation (NASDAQ:LMNX) will report $74.22 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Luminex Corporation’s earnings, with the lowest sales estimate coming in at $74.00 million and the highest estimate coming in at $74.57 million. Luminex Corporation reported sales of $71.22 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The business is scheduled to issue its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Luminex Corporation will report full year sales of $74.22 million for the current fiscal year, with estimates ranging from $303.02 million to $306.66 million. For the next financial year, analysts forecast that the company will post sales of $313.44 million per share, with estimates ranging from $298.40 million to $321.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Luminex Corporation.
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, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS.
A number of research analysts have commented on LMNX shares. Zacks Investment Research upgraded Luminex Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday, July 17th. TheStreet downgraded Luminex Corporation from a “b” rating to a “c+” rating in a research note on Monday, August 7th. ValuEngine upgraded Luminex Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. 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. Finally, BidaskClub downgraded Luminex Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Luminex Corporation currently has an average rating of “Hold” and an average target price of $21.40.
Shares of Luminex Corporation (NASDAQ LMNX) opened at 19.94 on Friday. The stock has a market capitalization of $878.78 million, a P/E ratio of 61.73 and a beta of 0.27. Luminex Corporation has a one year low of $17.64 and a one year high of $23.62. The company’s 50 day moving average price is $19.44 and its 200 day moving average price is $19.70.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be given a $0.06 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. Luminex Corporation’s dividend payout ratio is currently 75.00%.
In other Luminex Corporation news, Director Robert J. Cresci sold 19,631 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $18.98, for a total value of $372,596.38. Following the completion of the sale, the director now owns 260,358 shares of the company’s stock, valued at $4,941,594.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in LMNX. BlackRock Inc. lifted its position in shares of Luminex Corporation by 52,547.0% in the first quarter. BlackRock Inc. now owns 5,063,064 shares of the medical instruments supplier’s stock worth $93,008,000 after buying an additional 5,053,447 shares during the last quarter. RGM Capital LLC lifted its position in shares of Luminex Corporation by 42.5% in the first quarter. RGM Capital LLC now owns 2,715,517 shares of the medical instruments supplier’s stock worth $49,884,000 after buying an additional 810,372 shares during the last quarter. Elk Creek Partners LLC lifted its position in shares of Luminex Corporation by 152.0% in the first quarter. Elk Creek Partners LLC now owns 698,416 shares of the medical instruments supplier’s stock worth $12,830,000 after buying an additional 421,263 shares during the last quarter. Northern Trust Corp lifted its position in shares of Luminex Corporation by 74.7% in the second quarter. Northern Trust Corp now owns 874,427 shares of the medical instruments supplier’s stock worth $18,467,000 after buying an additional 373,976 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Luminex Corporation by 15.9% in the second quarter. Renaissance Technologies LLC now owns 1,841,540 shares of the medical instruments supplier’s stock worth $38,893,000 after buying an additional 252,299 shares during the last quarter. 77.95% of the stock is owned by institutional investors.
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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