Luminex (LMNX) Earns Buy Rating from Analysts at BTIG Research

BTIG Research assumed coverage on shares of Luminex (NASDAQ:LMNX) in a report released on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $24.00 target price on the medical instruments supplier’s stock.

Several other analysts have also recently commented on LMNX. Jefferies Group restated a hold rating and set a $21.00 target price on shares of Luminex in a report on Friday, October 20th. TheStreet upgraded Luminex from a c+ rating to a b- rating in a report on Wednesday, November 1st. Finally, BidaskClub cut Luminex from a hold rating to a sell rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Luminex currently has an average rating of Hold and an average price target of $20.80.

Shares of Luminex (NASDAQ:LMNX) opened at $20.68 on Friday. The company has a market capitalization of $909.72, a price-to-earnings ratio of 30.87, a PEG ratio of 1.96 and a beta of 0.19. Luminex has a 1-year low of $17.68 and a 1-year high of $22.42.

Luminex (NASDAQ:LMNX) last announced its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. The company had revenue of $74.14 million for the quarter, compared to analysts’ expectations of $74.38 million. Luminex had a return on equity of 6.01% and a net margin of 9.52%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. equities analysts forecast that Luminex will post 0.49 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, December 21st. Luminex’s payout ratio is presently 35.82%.

In other news, Director G Walter Loewenbaum II sold 50,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.79, for a total transaction of $1,089,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 131,698 shares of company stock worth $2,761,201 in the last 90 days. Company insiders own 6.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Algert Global LLC boosted its holdings in Luminex by 18.2% in the third quarter. Algert Global LLC now owns 129,997 shares of the medical instruments supplier’s stock valued at $2,643,000 after acquiring an additional 20,043 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Luminex by 9.6% in the third quarter. Neuberger Berman Group LLC now owns 1,015,916 shares of the medical instruments supplier’s stock valued at $20,654,000 after acquiring an additional 89,141 shares during the last quarter. OxFORD Asset Management LLP boosted its holdings in Luminex by 4.3% in the third quarter. OxFORD Asset Management LLP now owns 194,526 shares of the medical instruments supplier’s stock valued at $3,937,000 after acquiring an additional 7,964 shares during the last quarter. Elk Creek Partners LLC boosted its holdings in Luminex by 13.6% in the third quarter. Elk Creek Partners LLC now owns 871,429 shares of the medical instruments supplier’s stock valued at $17,716,000 after acquiring an additional 104,494 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Luminex by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,819,417 shares of the medical instruments supplier’s stock valued at $36,989,000 after acquiring an additional 61,437 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.

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About Luminex

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.

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