ValuEngine Upgrades Luminex (NASDAQ:LMNX) to “Buy”

Luminex (NASDAQ:LMNX) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Several other analysts have also weighed in on the company. William Blair restated a “market perform” rating on shares of Luminex in a report on Tuesday, May 7th. BidaskClub upgraded Luminex from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded Luminex from a “strong sell” rating to a “hold” rating and set a $17.00 price objective for the company in a report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $25.67.

Shares of NASDAQ:LMNX traded up $0.09 on Thursday, hitting $21.69. The company’s stock had a trading volume of 279,552 shares, compared to its average volume of 188,153. Luminex has a 12 month low of $19.47 and a 12 month high of $35.37. The firm has a market capitalization of $977.36 million, a P/E ratio of 45.19, a price-to-earnings-growth ratio of 23.37 and a beta of 0.77. The company’s 50-day moving average price is $20.62. 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 (NASDAQ:LMNX) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.09). The firm 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 company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, equities research analysts expect that Luminex will post 0.06 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in LMNX. First National Corp MA ADV lifted its holdings in shares of Luminex by 30.0% during 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 purchasing an additional 600 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Luminex by 32.4% during 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 purchasing an additional 1,100 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Luminex by 11.1% during the first 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. BNP Paribas Arbitrage SA lifted its holdings in shares of Luminex by 790.6% during the first quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock valued at $223,000 after purchasing an additional 8,617 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. lifted 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 valued at $246,000 after purchasing an additional 695 shares during the last quarter. Institutional investors and hedge funds own 83.09% of the company’s stock.

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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