Luminex Corporation (LMNX) Posts Earnings Results, Beats Expectations By $0.06 EPS
Luminex Corporation (NASDAQ:LMNX) released its quarterly earnings data on Monday. The medical instruments supplier reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.06, Bloomberg Earnings reports. Luminex Corporation had a net margin of 4.72% and a return on equity of 4.81%. The business had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.38 million. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis.
Luminex Corporation (NASDAQ:LMNX) traded up 0.15% during trading on Monday, reaching $20.34. The company’s stock had a trading volume of 138,176 shares. The company has a market cap of $896.40 million, a P/E ratio of 62.97 and a beta of 0.28. Luminex Corporation has a 12 month low of $17.64 and a 12 month high of $22.27. The stock’s 50-day moving average is $20.18 and its 200 day moving average is $20.12.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 22nd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, September 21st. Luminex Corporation’s dividend payout ratio (DPR) is presently 75.00%.
A number of research firms recently commented on LMNX. Jefferies Group LLC restated a “hold” rating and issued a $21.00 price objective on shares of Luminex Corporation in a research report on Friday, October 20th. ValuEngine upgraded shares of Luminex Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research report on Thursday, August 24th. BidaskClub cut Luminex Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Finally, TheStreet cut Luminex Corporation from a “b” rating to a “c+” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. Luminex Corporation currently has a consensus rating of “Hold” and an average price target of $20.00.
In other news, Director Robert J. Cresci sold 19,631 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $18.98, for a total transaction of $372,596.38. Following the transaction, the director now owns 260,358 shares in the company, valued at $4,941,594.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is currently owned by corporate insiders.
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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