Luminex (NASDAQ:LMNX) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Luminex (NASDAQ:LMNX) from a strong sell rating to a sell rating in a research note released on Friday, BidAskClub reports.

A number of other analysts also recently issued reports on LMNX. William Blair reaffirmed a market perform rating on shares of Luminex in a report on Tuesday, May 7th. Zacks Investment Research raised DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Luminex presently has a consensus rating of Hold and a consensus target price of $25.67.

Shares of NASDAQ LMNX opened at $19.81 on Friday. The stock has a market cap of $897.30 million, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 21.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.99 and a quick ratio of 2.70. The business’s 50-day simple moving average is $20.70. Luminex has a 1 year low of $19.47 and a 1 year high of $35.37.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings results on Monday, May 6th. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.14). The business had revenue of $82.41 million for the quarter, compared to analysts’ expectations of $83.10 million. Luminex had a return on equity of 1.62% and a net margin of 2.55%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Equities analysts anticipate that Luminex will post 0.06 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Wednesday, June 19th. Luminex’s payout ratio is currently 50.00%.

Several institutional investors have recently bought and sold shares of LMNX. First National Corp MA ADV lifted its holdings in shares of Luminex by 30.0% in 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. lifted its holdings in shares of Luminex by 32.4% in 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. lifted its holdings in shares of Luminex by 11.1% in the 1st 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% in the 1st 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% in the 1st 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. 84.65% of the stock is owned by institutional investors and hedge funds.

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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