Luminex (LMNX) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Luminex (NASDAQ:LMNX) announced its quarterly earnings results on Monday. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.14), Briefing.com reports. The company had revenue of $82.41 million during the quarter, compared to analysts’ expectations of $83.10 million. Luminex had a net margin of 5.81% and a return on equity of 4.61%. Luminex’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share.

LMNX stock traded down $0.03 during midday trading on Wednesday, hitting $22.29. The stock had a trading volume of 51,696 shares, compared to its average volume of 318,522. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 46.44, a PEG ratio of 6.17 and a beta of 0.75. Luminex has a 52-week low of $20.40 and a 52-week high of $35.37.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were paid a $0.06 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $0.24 annualized dividend and a yield of 1.08%. Luminex’s payout ratio is 50.00%.

LMNX has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Luminex from a “hold” rating to a “sell” rating in a report on Friday, January 18th. BidaskClub upgraded Luminex from a “hold” rating to a “buy” rating in a report on Saturday, January 19th. Finally, ValuEngine upgraded Luminex from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Luminex currently has a consensus rating of “Hold” and a consensus target price of $30.00.

A number of hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc purchased a new stake in Luminex during the 4th quarter valued at about $39,000. Quantamental Technologies LLC purchased a new stake in Luminex during the 4th quarter valued at about $100,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Luminex during the 4th quarter valued at about $100,000. Amundi Pioneer Asset Management Inc. grew its position in Luminex by 32.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,500 shares of the medical instruments supplier’s stock valued at $104,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in Luminex by 11.1% during the 1st quarter. Meeder Asset Management Inc. now owns 4,925 shares of the medical instruments supplier’s stock valued at $113,000 after purchasing an additional 491 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors.

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About Luminex

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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Earnings History for Luminex (NASDAQ:LMNX)

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