Research Analysts Issue Forecasts for Luminex Co.’s Q1 2018 Earnings (LMNX)

Luminex Co. (NASDAQ:LMNX) – Research analysts at Jefferies Group upped their Q1 2018 earnings per share (EPS) estimates for Luminex in a report issued on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the medical instruments supplier will post earnings of $0.18 per share for the quarter, up from their prior forecast of $0.17. Jefferies Group has a “Hold” rating and a $21.00 price objective on the stock. Jefferies Group also issued estimates for Luminex’s Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.13 EPS, FY2018 earnings at $0.57 EPS and FY2019 earnings at $0.71 EPS.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, February 12th. The medical instruments supplier reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The company had revenue of $78.20 million during the quarter, compared to analysts’ expectations of $77.33 million. Luminex had a return on equity of 8.56% and a net margin of 9.48%. Luminex’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS.

Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Luminex from a “c+” rating to a “b-” rating in a report on Wednesday, November 1st. BTIG Research started coverage on Luminex in a report on Friday, January 5th. They issued a “buy” rating and a $24.00 price objective for the company. William Blair restated a “market perform” rating on shares of Luminex in a report on Tuesday. Finally, BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Luminex has a consensus rating of “Hold” and an average target price of $22.33.

Luminex (NASDAQ:LMNX) opened at $19.38 on Wednesday. The firm has a market capitalization of $850.69, a PE ratio of 23.26, a PEG ratio of 1.84 and a beta of 0.13. Luminex has a 1-year low of $17.68 and a 1-year high of $22.42.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, March 22nd. Luminex’s payout ratio is currently 35.82%.

In related news, Director G Walter Loewenbaum II sold 10,503 shares of Luminex stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $20.61, for a total transaction of $216,466.83. Following the completion of the transaction, the director now owns 564,217 shares in the company, valued at $11,628,512.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 131,698 shares of company stock valued at $2,761,201 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. First Quadrant L P CA bought a new position in Luminex during the third quarter worth about $173,000. Creative Planning bought a new position in Luminex during the fourth quarter worth about $198,000. UBS Asset Management Americas Inc. bought a new position in Luminex during the fourth quarter worth about $206,000. Crossmark Global Holdings Inc. bought a new position in Luminex during the third quarter worth about $254,000. Finally, Teacher Retirement System of Texas bought a new position in Luminex during the fourth quarter worth about $270,000. Institutional investors and hedge funds own 76.64% of the company’s stock.

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About Luminex

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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