Luminex Corporation (LMNX) Stock Rating Upgraded by TheStreet
Luminex Corporation (NASDAQ:LMNX) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also recently weighed in on LMNX. BidaskClub cut Luminex Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $21.00 price target 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 report on Wednesday, September 6th. Finally, Zacks Investment Research raised Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.00.
Luminex Corporation (NASDAQ:LMNX) last released its quarterly earnings data on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $74.38 million. Luminex Corporation had a return on equity of 6.01% and a net margin of 9.52%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share.
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In other news, Director Robert J. Cresci sold 19,631 shares of Luminex Corporation 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 transaction, the director now directly owns 260,358 shares in the company, valued at $4,941,594.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its stake in shares of Luminex Corporation by 1.6% in the first quarter. BlackRock Fund Advisors now owns 3,017,364 shares of the medical instruments supplier’s stock worth $58,537,000 after purchasing an additional 46,200 shares during the period. Russell Frank Co increased its stake in shares of Luminex Corporation by 47.1% in the fourth quarter. Russell Frank Co now owns 238,775 shares of the medical instruments supplier’s stock worth $5,167,000 after purchasing an additional 76,444 shares during the period. Renaissance Technologies LLC increased its stake in shares of Luminex Corporation by 0.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,346,340 shares of the medical instruments supplier’s stock worth $27,236,000 after purchasing an additional 12,100 shares during the period. Cowen Prime Services LLC increased its stake in shares of Luminex Corporation by 1.0% in the third quarter. Cowen Prime Services LLC now owns 256,945 shares of the medical instruments supplier’s stock worth $5,838,000 after purchasing an additional 2,600 shares during the period. Finally, Acadian Asset Management increased its stake in shares of Luminex Corporation by 22.5% in the fourth quarter. Acadian Asset Management now owns 757,381 shares of the medical instruments supplier’s stock worth $16,200,000 after purchasing an additional 139,061 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.
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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