$74.24 Million in Sales Expected for Luminex Corporation (LMNX) This Quarter
Equities analysts expect Luminex Corporation (NASDAQ:LMNX) to post sales of $74.24 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Luminex Corporation’s earnings. The lowest sales estimate is $74.00 million and the highest is $74.57 million. Luminex Corporation posted sales of $71.22 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.2%. The business is scheduled to announce its next earnings results after the market closes on Monday, October 30th.
On average, analysts expect that Luminex Corporation will report full year sales of $74.24 million for the current financial year, with estimates ranging from $303.02 million to $306.70 million. For the next fiscal year, analysts forecast that the business will report sales of $313.29 million per share, with estimates ranging from $303.75 million to $318.00 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Luminex Corporation.
Luminex Corporation (NASDAQ:LMNX) last announced its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $74.14 million for the quarter, compared to analysts’ expectations of $74.38 million. Luminex Corporation had a net margin of 4.72% and a return on equity of 4.81%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS.
Several brokerages have weighed in on LMNX. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 target price on shares of Luminex Corporation in a research report on Friday, October 20th. ValuEngine raised Luminex Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research note on Thursday, August 24th. BidaskClub cut Luminex Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, TheStreet lowered Luminex Corporation from a “b” rating to a “c+” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.
In other news, Director Robert J. Cresci sold 19,631 shares of Luminex Corporation stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $18.98, for a total transaction of $372,596.38. Following the sale, the director now owns 260,358 shares of the company’s stock, valued at approximately $4,941,594.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. boosted its stake in Luminex Corporation by 8.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock valued at $111,000 after buying an additional 405 shares in the last quarter. State of Alaska Department of Revenue raised its position in Luminex Corporation by 92.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,895 shares of the medical instruments supplier’s stock valued at $166,000 after purchasing an additional 3,785 shares during the last quarter. First Quadrant L P CA bought a new position in Luminex Corporation in the 3rd quarter valued at $173,000. Sei Investments Co. raised its position in Luminex Corporation by 38.7% in the 2nd quarter. Sei Investments Co. now owns 8,245 shares of the medical instruments supplier’s stock valued at $174,000 after purchasing an additional 2,299 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Luminex Corporation by 37.4% in the 2nd quarter. SG Americas Securities LLC now owns 9,726 shares of the medical instruments supplier’s stock valued at $205,000 after purchasing an additional 2,649 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.
Luminex Corporation (NASDAQ LMNX) opened at 20.34 on Tuesday. The firm has a market capitalization of $896.40 million, a PE ratio of 62.97 and a beta of 0.28. Luminex Corporation has a one year low of $17.64 and a one year high of $22.27. The stock has a 50 day moving average of $20.21 and a 200-day moving average of $20.16.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 22nd were issued a $0.06 dividend. 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 currently 75.00%.
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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