Luminex (LMNX) Research Coverage Started at BTIG Research
BTIG Research started coverage on shares of Luminex (NASDAQ:LMNX) in a report issued on Friday. The brokerage set a “buy” rating and a $24.00 price target on the medical instruments supplier’s stock. BTIG Research’s price objective would suggest a potential upside of 19.28% from the company’s previous close.
LMNX has been the subject of a number of other reports. TheStreet upgraded Luminex from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st. BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Finally, Jefferies Group reiterated a “hold” rating and issued a $21.00 price target on shares of Luminex in a research note on Friday, October 20th. Two equities research 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. The stock presently has an average rating of “Hold” and a consensus target price of $20.80.
Shares of Luminex (NASDAQ:LMNX) opened at $20.12 on Friday. Luminex has a 12-month low of $17.68 and a 12-month high of $22.42. The firm has a market capitalization of $891.66, a PE ratio of 30.49, a P/E/G ratio of 1.93 and a beta of 0.19.
In related news, Director G Walter Loewenbaum II sold 50,000 shares of Luminex stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $21.79, for a total transaction of $1,089,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 131,698 shares of company stock valued at $2,761,201. 6.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in LMNX. Teacher Retirement System of Texas grew its holdings in Luminex by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,429 shares of the medical instruments supplier’s stock valued at $110,000 after purchasing an additional 659 shares during the period. Sei Investments Co. grew its holdings in Luminex by 10.9% in the first quarter. Sei Investments Co. now owns 5,946 shares of the medical instruments supplier’s stock valued at $110,000 after purchasing an additional 582 shares during the period. Pinebridge Investments L.P. grew its holdings in Luminex by 8.3% in the second quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock valued at $111,000 after purchasing an additional 405 shares during the period. ClariVest Asset Management LLC grew its holdings in Luminex by 33,173.3% in the third quarter. ClariVest Asset Management LLC now owns 4,991 shares of the medical instruments supplier’s stock valued at $113,000 after purchasing an additional 4,976 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Luminex by 37.7% in the third quarter. Victory Capital Management Inc. now owns 5,120 shares of the medical instruments supplier’s stock valued at $116,000 after purchasing an additional 1,401 shares during the period. Institutional investors own 79.16% of the company’s stock.
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Luminex 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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