Rhumbline Advisers Purchases 9,252 Shares of Luminex Co. (NASDAQ:LMNX)

Rhumbline Advisers lifted its position in Luminex Co. (NASDAQ:LMNX) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,181 shares of the medical instruments supplier’s stock after acquiring an additional 9,252 shares during the quarter. Rhumbline Advisers’ holdings in Luminex were worth $2,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio grew its stake in shares of Luminex by 7.4% in the 2nd quarter. Strs Ohio now owns 33,400 shares of the medical instruments supplier’s stock worth $689,000 after acquiring an additional 2,300 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Luminex by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,495,475 shares of the medical instruments supplier’s stock worth $92,787,000 after acquiring an additional 34,902 shares in the last quarter. Bridge City Capital LLC boosted its holdings in shares of Luminex by 27.6% in the 3rd quarter. Bridge City Capital LLC now owns 68,336 shares of the medical instruments supplier’s stock worth $1,411,000 after buying an additional 14,800 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Luminex by 22.6% in the 2nd quarter. Fisher Asset Management LLC now owns 93,233 shares of the medical instruments supplier’s stock worth $1,924,000 after buying an additional 17,178 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Luminex by 27.9% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 145,945 shares of the medical instruments supplier’s stock worth $3,012,000 after buying an additional 31,802 shares during the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.

Shares of LMNX traded up $0.35 during midday trading on Tuesday, hitting $19.64. 2,574 shares of the company traded hands, compared to its average volume of 201,209. The stock has a 50-day moving average of $20.25 and a 200-day moving average of $20.88. Luminex Co. has a one year low of $17.34 and a one year high of $30.16. The firm has a market cap of $827.38 million, a P/E ratio of 40.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.17.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). Luminex had a negative net margin of 2.93% and a negative return on equity of 2.38%. The company had revenue of $78.67 million for the quarter, compared to the consensus estimate of $81.75 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Luminex Co. will post -0.26 EPS for the current fiscal year.

A number of brokerages recently weighed in on LMNX. ValuEngine downgraded shares of Luminex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. BTIG Research cut their price target on shares of Luminex to $32.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. downgraded shares of Luminex from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $23.00 to $21.00 in a report on Friday, September 27th. Finally, BidaskClub downgraded shares of Luminex from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.33.

In related news, CEO Nachum Shamir purchased 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $19.71 per share, for a total transaction of $98,550.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Walter Loewenbaum II purchased 45,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were bought at an average price of $17.88 per share, for a total transaction of $804,600.00. The disclosure for this purchase can be found here. Corporate insiders own 8.70% 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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Institutional Ownership by Quarter for Luminex (NASDAQ:LMNX)

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