Hussman Strategic Advisors Inc. Acquires Shares of 70,000 Luminex Corporation (LMNX)

Hussman Strategic Advisors Inc. bought a new position in Luminex Corporation (NASDAQ:LMNX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 70,000 shares of the medical instruments supplier’s stock, valued at approximately $1,478,000. Hussman Strategic Advisors Inc. owned approximately 0.16% of Luminex Corporation at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LMNX. Bank of America Corp DE increased its stake in Luminex Corporation by 9.9% in the first quarter. Bank of America Corp DE now owns 322,154 shares of the medical instruments supplier’s stock worth $5,917,000 after buying an additional 29,107 shares in the last quarter. BlackRock Inc. increased its stake in Luminex Corporation by 52,547.0% in the first quarter. BlackRock Inc. now owns 5,063,064 shares of the medical instruments supplier’s stock worth $93,008,000 after buying an additional 5,053,447 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Luminex Corporation during the first quarter worth about $225,000. Creative Planning increased its stake in Luminex Corporation by 5.4% in the first quarter. Creative Planning now owns 9,256 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 474 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Luminex Corporation by 27.1% in the fourth quarter. Guggenheim Capital LLC now owns 73,057 shares of the medical instruments supplier’s stock valued at $1,478,000 after buying an additional 15,566 shares during the period. 73.36% of the stock is owned by institutional investors and hedge funds.

Shares of Luminex Corporation (NASDAQ:LMNX) traded down 0.32% during midday trading on Friday, reaching $18.95. The company’s stock had a trading volume of 138,221 shares. The company has a market cap of $835.15 million, a PE ratio of 58.67 and a beta of 0.29. Luminex Corporation has a 12 month low of $17.64 and a 12 month high of $23.62. The company’s 50-day moving average price is $20.30 and its 200-day moving average price is $19.62.

Luminex Corporation (NASDAQ:LMNX) last issued its quarterly earnings results on Monday, August 7th. The medical instruments supplier reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.11. The business had revenue of $76.50 million during the quarter, compared to analyst estimates of $75.45 million. Luminex Corporation had a return on equity of 4.81% and a net margin of 4.72%. Luminex Corporation’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. On average, equities analysts anticipate that Luminex Corporation will post $0.54 EPS for the current fiscal year.

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Several brokerages have recently weighed in on LMNX. BidaskClub cut Luminex Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. TheStreet cut Luminex Corporation from a “b” rating to a “c+” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded Luminex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Monday, July 17th. ValuEngine cut Luminex Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Jefferies Group LLC restated a “hold” rating and set a $21.00 target price on shares of Luminex Corporation in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Luminex Corporation currently has a consensus rating of “Hold” and an average target price of $21.60.

In other news, Director G Walter Loewenbaum II sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $20.07, for a total transaction of $501,750.00. Following the completion of the transaction, the director now owns 713,896 shares in the company, valued at $14,327,892.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

About Luminex Corporation

Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.

Institutional Ownership by Quarter for Luminex Corporation (NASDAQ:LMNX)

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