Luminex Corporation (LMNX) Announces Earnings Results

Luminex Corporation (NASDAQ:LMNX) posted its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06, Bloomberg Earnings reports. The company had revenue of $74.14 million for the quarter, compared to the consensus estimate of $74.38 million. Luminex Corporation had a return on equity of 6.01% and a net margin of 9.52%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share.

Shares of Luminex Corporation (LMNX) opened at $21.28 on Wednesday. The stock has a market capitalization of $923.82, a P/E ratio of 36.15, a P/E/G ratio of 2.63 and a beta of 0.18. Luminex Corporation has a twelve month low of $17.68 and a twelve month high of $22.27.

LMNX has been the topic of several analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $21.00 price objective on shares of Luminex Corporation in a research note on Friday, October 20th. BidaskClub cut Luminex Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. TheStreet cut Luminex Corporation from a “b” rating to a “c+” rating in a research note on Monday, August 7th. Zacks Investment Research raised Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research note on Thursday, August 24th. Finally, ValuEngine raised Luminex Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

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In related news, Director Robert J. Cresci sold 19,631 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $18.98, for a total value of $372,596.38. Following the completion of the sale, the director now owns 260,358 shares in the company, valued at $4,941,594.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is currently owned by insiders.

About Luminex Corporation

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.

Earnings History for Luminex Corporation (NASDAQ:LMNX)

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