$91.13 Million in Sales Expected for Luminex Co. (NASDAQ:LMNX) This Quarter

Wall Street brokerages forecast that Luminex Co. (NASDAQ:LMNX) will report sales of $91.13 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Luminex’s earnings, with estimates ranging from $89.99 million to $91.90 million. Luminex posted sales of $81.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The firm is expected to issue its next quarterly earnings report on Monday, February 3rd.

According to Zacks, analysts expect that Luminex will report full-year sales of $335.18 million for the current year, with estimates ranging from $334.13 million to $336.00 million. For the next fiscal year, analysts forecast that the business will report sales of $362.84 million, with estimates ranging from $356.76 million to $372.32 million. Zacks’ sales averages are an average based on a survey of research firms that cover Luminex.

Luminex (NASDAQ:LMNX) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Luminex had a negative return on equity of 2.38% and a negative net margin of 2.93%. The company had revenue of $78.67 million during the quarter, compared to analysts’ expectations of $81.75 million. During the same quarter in the previous year, the company earned $0.04 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year.

LMNX has been the topic of a number of research analyst reports. BidaskClub lowered Luminex from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. BTIG Research reduced their price objective on shares of Luminex to $32.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. ValuEngine cut Luminex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered Luminex from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $23.00 to $21.00 in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Luminex presently has an average rating of “Hold” and a consensus target price of $23.33.

Shares of NASDAQ:LMNX traded down $0.10 on Friday, hitting $20.43. 2,067 shares of the company were exchanged, compared to its average volume of 251,609. The company’s 50 day moving average price is $20.26 and its two-hundred day moving average price is $20.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.17 and a current ratio of 3.52. The firm has a market capitalization of $923.98 million, a price-to-earnings ratio of 42.77 and a beta of 0.82. Luminex has a one year low of $17.34 and a one year high of $30.16.

In other news, CEO Nachum Shamir acquired 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $19.30 per share, for a total transaction of $96,500.00. Following the completion of the transaction, the chief executive officer now directly owns 197,534 shares in the company, valued at approximately $3,812,406.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Walter Loewenbaum II bought 45,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were purchased at an average cost of $17.88 per share, with a total value of $804,600.00. The disclosure for this purchase can be found here. Insiders bought 55,000 shares of company stock valued at $1,000,080 in the last ninety days. 8.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Luminex by 68.3% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the medical instruments supplier’s stock valued at $171,000 after purchasing an additional 3,356 shares during the period. WINTON GROUP Ltd increased its holdings in Luminex by 42.6% in the second quarter. WINTON GROUP Ltd now owns 13,314 shares of the medical instruments supplier’s stock worth $275,000 after purchasing an additional 3,976 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in Luminex by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 18,055 shares of the medical instruments supplier’s stock worth $373,000 after purchasing an additional 1,419 shares in the last quarter. Pitcairn Co. lifted its stake in Luminex by 32.4% in the second quarter. Pitcairn Co. now owns 18,337 shares of the medical instruments supplier’s stock valued at $378,000 after buying an additional 4,483 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Luminex by 5.4% in the third quarter. Nisa Investment Advisors LLC now owns 20,310 shares of the medical instruments supplier’s stock valued at $419,000 after buying an additional 1,034 shares during the period. 80.39% of the stock is currently 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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