Luminex Co. (NASDAQ:LMNX) – Stock analysts at Jefferies Financial Group lowered their Q1 2020 earnings per share (EPS) estimates for Luminex in a research note issued to investors on Friday, August 2nd. Jefferies Financial Group analyst B. Couillard now anticipates that the medical instruments supplier will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.12. Jefferies Financial Group also issued estimates for Luminex’s Q2 2020 earnings at $0.05 EPS and Q3 2020 earnings at $0.04 EPS.
A number of other equities research analysts have also weighed in on LMNX. William Blair reissued a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. ValuEngine raised Luminex from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. BidaskClub raised Luminex from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research raised Luminex from a “strong sell” rating to a “hold” rating and set a $17.00 price target for the company in a research report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $25.67.
Luminex (NASDAQ:LMNX) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Luminex had a negative net margin of 0.80% and a negative return on equity of 0.78%. The company had revenue of $83.06 million during the quarter, compared to the consensus estimate of $81.61 million. During the same period last year, the firm posted $0.15 EPS. The company’s revenue was up 4.4% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.09 per share. This is a positive change from Luminex’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $0.36 dividend on an annualized basis and a yield of 1.72%. Luminex’s dividend payout ratio is presently 50.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First National Corp MA ADV raised its position in Luminex by 30.0% during the 1st 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. raised 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. Meeder Asset Management Inc. grew its holdings in shares of Luminex by 11.1% during the 1st quarter. Meeder Asset Management Inc. now owns 4,925 shares of the medical instruments supplier’s stock worth $113,000 after acquiring an additional 491 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Luminex by 790.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock worth $223,000 after acquiring an additional 8,617 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its holdings in shares of Luminex by 7.0% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,695 shares of the medical instruments supplier’s stock worth $246,000 after acquiring an additional 695 shares during the period. 82.88% 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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