Analysts Set Luminex Co. (LMNX) PT at $27.00

Luminex Co. (NASDAQ:LMNX) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $27.00.

A number of brokerages recently issued reports on LMNX. ValuEngine upgraded Luminex from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. BidaskClub upgraded Luminex from a “hold” rating to a “buy” rating in a report on Saturday, January 19th. Zacks Investment Research cut Luminex from a “hold” rating to a “sell” rating in a report on Friday, January 18th. Finally, TheStreet cut Luminex from a “b-” rating to a “c+” rating in a report on Friday, December 14th.

Luminex stock opened at $23.01 on Wednesday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 6.02 and a beta of 0.79. Luminex has a 52-week low of $19.20 and a 52-week high of $35.37.

Luminex (NASDAQ:LMNX) last issued its earnings results on Monday, February 4th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Luminex had a return on equity of 4.61% and a net margin of 5.81%. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.76 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. Luminex’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Luminex will post 0.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 21st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, March 20th. Luminex’s payout ratio is currently 50.00%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMNX. Norges Bank purchased a new stake in Luminex in the 4th quarter valued at $22,764,000. Glenmede Trust Co. NA raised its position in Luminex by 200,517.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 756,327 shares of the medical instruments supplier’s stock valued at $22,923,000 after buying an additional 755,950 shares during the last quarter. Bessemer Group Inc. raised its position in Luminex by 63.0% in the 4th quarter. Bessemer Group Inc. now owns 866,888 shares of the medical instruments supplier’s stock valued at $20,034,000 after buying an additional 335,037 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Luminex by 26,778.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 221,476 shares of the medical instruments supplier’s stock valued at $6,712,000 after buying an additional 220,652 shares during the last quarter. Finally, Vanguard Group Inc raised its position in Luminex by 4.8% in the 3rd quarter. Vanguard Group Inc now owns 4,268,240 shares of the medical instruments supplier’s stock valued at $129,370,000 after buying an additional 194,226 shares during the last quarter. 86.59% of the stock is owned by institutional investors and hedge funds.

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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