Comerica Bank lowered its holdings in Luminex Co. (NASDAQ:LMNX) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,163 shares of the medical instruments supplier’s stock after selling 3,525 shares during the period. Comerica Bank owned approximately 0.09% of Luminex worth $1,104,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Luminex by 6.4% in the second quarter. BlackRock Inc. now owns 6,593,040 shares of the medical instruments supplier’s stock worth $194,692,000 after acquiring an additional 395,549 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Luminex by 3.7% in the third quarter. Acadian Asset Management LLC now owns 1,635,083 shares of the medical instruments supplier’s stock worth $49,560,000 after acquiring an additional 58,487 shares in the last quarter. Northern Trust Corp increased its position in shares of Luminex by 1.3% in the second quarter. Northern Trust Corp now owns 967,694 shares of the medical instruments supplier’s stock worth $28,575,000 after acquiring an additional 12,587 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Luminex in the second quarter worth $11,507,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Luminex by 26.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 343,824 shares of the medical instruments supplier’s stock worth $10,154,000 after acquiring an additional 71,512 shares in the last quarter. 83.82% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Luminex from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 29th. Zacks Investment Research raised shares of Luminex from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Citigroup lowered their price target on shares of Luminex from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, November 6th. Finally, BidaskClub lowered shares of Luminex from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.40.
LMNX opened at $28.42 on Friday. The firm has a market cap of $1.31 billion, a P/E ratio of 32.01, a PEG ratio of 3.39 and a beta of 0.35. Luminex Co. has a twelve month low of $18.62 and a twelve month high of $35.37.
Luminex (NASDAQ:LMNX) last released its quarterly earnings results on Monday, November 5th. The medical instruments supplier reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $72.40 million for the quarter, compared to analyst estimates of $74.05 million. Luminex had a net margin of 5.65% and a return on equity of 5.99%. Luminex’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share. Equities analysts anticipate that Luminex Co. will post 0.58 earnings per share for the current year.
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Luminex Company Profile
Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, an automated multiplex-capable system.
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