Luminex (NASDAQ:LMNX) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Luminex (NASDAQ:LMNX) from a hold rating to a buy rating in a research note published on Thursday morning, ValuEngine reports.

Several other analysts have also recently issued reports on LMNX. William Blair reiterated a market perform rating on shares of Luminex in a research note on Tuesday, May 7th. BidaskClub raised Luminex from a sell rating to a hold rating in a report on Wednesday. Finally, Zacks Investment Research raised Luminex from a strong sell rating to a hold rating and set a $17.00 target price on the stock in a report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $25.67.

Shares of NASDAQ LMNX traded up $0.09 during mid-day trading on Thursday, hitting $21.69. The company had a trading volume of 279,552 shares, compared to its average volume of 188,153. The stock has a market cap of $977.36 million, a P/E ratio of 45.19, a PEG ratio of 23.37 and a beta of 0.77. The company has a quick ratio of 2.70, a current ratio of 3.99 and a debt-to-equity ratio of 0.04. Luminex has a 1-year low of $19.47 and a 1-year high of $35.37. The business’s 50-day moving average price is $20.62.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company had revenue of $83.06 million during the quarter, compared to analyst estimates of $81.61 million. Luminex had a negative net margin of 0.80% and a negative return on equity of 0.78%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 earnings per share. As a group, analysts expect that Luminex will post 0.06 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, September 25th. This is a positive change from Luminex’s previous quarterly dividend of $0.06. Luminex’s dividend payout ratio is 50.00%.

A number of large investors have recently bought and sold shares of LMNX. First National Corp MA ADV increased its holdings in Luminex by 30.0% in the first quarter. First National Corp MA ADV now owns 2,600 shares of the medical instruments supplier’s stock valued at $60,000 after buying an additional 600 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Luminex by 32.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 4,500 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 1,100 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Luminex by 11.1% in the first quarter. Meeder Asset Management Inc. now owns 4,925 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 491 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Luminex by 790.6% in the first quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock valued at $223,000 after buying an additional 8,617 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. grew its holdings in shares of Luminex by 7.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 10,695 shares of the medical instruments supplier’s stock worth $246,000 after purchasing an additional 695 shares during the last quarter. 83.09% of the stock is currently owned by hedge funds and other institutional investors.

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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