Luminex (NASDAQ:LMNX) Stock Rating Upgraded by JPMorgan Chase & Co.

Luminex (NASDAQ:LMNX) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.

LMNX traded up $4.01 during trading on Monday, hitting $36.96. The company’s stock had a trading volume of 1,361,184 shares, compared to its average volume of 646,421. The business’s 50 day simple moving average is $31.84 and its 200-day simple moving average is $26.53. The firm has a market cap of $1.75 billion, a PE ratio of 94.85 and a beta of 0.61. Luminex has a one year low of $20.61 and a one year high of $41.69. The company has a quick ratio of 5.01, a current ratio of 6.45 and a debt-to-equity ratio of 0.39.

Luminex (NASDAQ:LMNX) last announced its earnings results on Sunday, February 7th. The medical instruments supplier reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.12). The company had revenue of $111.39 million during the quarter, compared to the consensus estimate of $104.57 million. Luminex had a return on equity of 3.75% and a net margin of 4.60%. Luminex’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. Equities research analysts expect that Luminex will post 0.44 EPS for the current fiscal year.

In other Luminex news, CFO Harriss T. Currie sold 5,325 shares of Luminex stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $32.35, for a total transaction of $172,263.75. Corporate insiders own 9.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Luminex by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 302,612 shares of the medical instruments supplier’s stock valued at $7,944,000 after acquiring an additional 18,678 shares during the period. Citigroup Inc. raised its stake in Luminex by 14.3% during the 4th quarter. Citigroup Inc. now owns 29,560 shares of the medical instruments supplier’s stock valued at $684,000 after purchasing an additional 3,707 shares during the period. Crawford Investment Counsel Inc. lifted its holdings in Luminex by 24.3% in the 4th quarter. Crawford Investment Counsel Inc. now owns 228,580 shares of the medical instruments supplier’s stock worth $5,285,000 after purchasing an additional 44,743 shares in the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Luminex in the 4th quarter worth approximately $361,000. Finally, Great Lakes Advisors LLC boosted its stake in Luminex by 24.5% in the 4th quarter. Great Lakes Advisors LLC now owns 103,661 shares of the medical instruments supplier’s stock worth $2,397,000 after purchasing an additional 20,423 shares during the period. Institutional investors and hedge funds own 88.09% of the company’s stock.

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; MicroPlex, MagPlex, xTAG, SeroMAP, and calibration and control microspheres; xPONENT, a software suite to simplify laboratory workflow and enhance productivity; and TDAS, an analysis program designed for development and optimization of nucleic acid assays.

Further Reading: Earnings Per Share

The Fly

Receive News & Ratings for Luminex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminex and related companies with MarketBeat.com's FREE daily email newsletter.

Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit