Luminex (NASDAQ:LMNX) Downgraded by BidaskClub

Luminex (NASDAQ:LMNX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, April 16th, BidAskClub reports.

Other analysts have also issued reports about the stock. ValuEngine upgraded shares of Luminex from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. Zacks Investment Research lowered shares of Luminex from a “hold” rating to a “sell” rating in a report on Friday, January 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Luminex currently has a consensus rating of “Hold” and an average price target of $31.33.

Luminex stock traded up $0.17 during trading on Tuesday, hitting $22.07. The stock had a trading volume of 255,153 shares, compared to its average volume of 302,522. The company has a market cap of $985.00 million, a price-to-earnings ratio of 45.98, a PEG ratio of 20.28 and a beta of 0.75. Luminex has a 1 year low of $20.40 and a 1 year high of $35.37. The company has a current ratio of 3.99, a quick ratio of 2.72 and a debt-to-equity ratio of 0.04.

Luminex (NASDAQ:LMNX) last released its earnings results on Monday, May 6th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.14). The firm had revenue of $82.41 million during the quarter, compared to the consensus estimate of $83.10 million. Luminex had a net margin of 2.55% and a return on equity of 1.62%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. As a group, equities research analysts forecast that Luminex will post 0.07 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of LMNX. Norges Bank bought a new stake in Luminex in the 4th quarter worth approximately $22,764,000. Glenmede Trust Co. NA grew 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 worth $22,923,000 after purchasing an additional 755,950 shares during the period. Bessemer Group Inc. grew its position in shares of Luminex by 63.0% during the 4th quarter. Bessemer Group Inc. now owns 866,888 shares of the medical instruments supplier’s stock valued at $20,034,000 after acquiring an additional 335,037 shares during the period. Elk Creek Partners LLC bought a new stake in shares of Luminex during the 1st quarter valued at $7,105,000. Finally, Vanguard Group Inc grew its position in shares of Luminex by 4.8% during 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 acquiring an additional 194,226 shares during the period. 85.52% 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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