Luminex Co. (NASDAQ:LMNX) Director G Walter Loewenbaum II purchased 45,000 shares of Luminex stock in a transaction on Thursday, November 7th. The stock was bought at an average price of $17.88 per share, with a total value of $804,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of NASDAQ LMNX traded up $0.14 during mid-day trading on Friday, reaching $18.36. The company’s stock had a trading volume of 175,600 shares, compared to its average volume of 256,731. The firm has a market capitalization of $815.80 million, a PE ratio of 38.25 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.45. The stock has a fifty day moving average of $20.49 and a two-hundred day moving average of $20.93. Luminex Co. has a 52 week low of $17.34 and a 52 week high of $30.16.
Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). The business had revenue of $78.67 million during the quarter, compared to the consensus estimate of $81.75 million. Luminex had a negative return on equity of 2.38% and a negative net margin of 2.93%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.04 EPS. Analysts anticipate that Luminex Co. will post -0.26 EPS for the current fiscal year.
A number of analysts have commented on LMNX shares. BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. lowered Luminex from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $23.00 to $21.00 in a research note on Friday, September 27th. Finally, ValuEngine lowered Luminex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMNX. Nuveen Asset Management LLC bought a new position in shares of Luminex in the second quarter worth about $10,618,000. RGM Capital LLC boosted its stake in shares of Luminex by 19.8% in the second quarter. RGM Capital LLC now owns 3,060,317 shares of the medical instruments supplier’s stock worth $63,165,000 after acquiring an additional 505,040 shares during the period. BlackRock Inc. boosted its stake in shares of Luminex by 4.2% in the second quarter. BlackRock Inc. now owns 6,783,282 shares of the medical instruments supplier’s stock worth $140,006,000 after acquiring an additional 271,981 shares during the period. Crawford Investment Counsel Inc. bought a new position in shares of Luminex in the second quarter worth about $1,719,000. Finally, Marshall Wace LLP boosted its stake in shares of Luminex by 38.0% in the second quarter. Marshall Wace LLP now owns 270,026 shares of the medical instruments supplier’s stock worth $5,574,000 after acquiring an additional 74,346 shares during the period. 79.59% of the stock is owned by hedge funds and other institutional investors.
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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.
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