Luminex Co. (NASDAQ:LMNX) – Equities researchers at Jefferies Group upped their Q1 2018 earnings per share estimates for Luminex in a note issued to investors on Tuesday. Jefferies Group analyst B. Couillard now expects that the medical instruments supplier will post earnings per share of $0.18 for the quarter, up from their prior forecast of $0.17. Jefferies Group has a “Hold” rating and a $21.00 price objective on the stock. Jefferies Group also issued estimates for Luminex’s Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.13 EPS, FY2018 earnings at $0.57 EPS and FY2019 earnings at $0.71 EPS.
A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Luminex from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th. BTIG Research started coverage on shares of Luminex in a research report on Friday, January 5th. They issued a “buy” rating and a $24.00 price objective on the stock. TheStreet raised shares of Luminex from a “c+” rating to a “b-” rating in a research report on Wednesday, November 1st. Finally, William Blair reissued a “market perform” rating on shares of Luminex in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.33.
Luminex (NASDAQ:LMNX) last posted its quarterly earnings data on Monday, February 12th. The medical instruments supplier reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.11. Luminex had a net margin of 9.48% and a return on equity of 8.48%. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $77.33 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis.
Hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC bought a new position in shares of Luminex during the fourth quarter valued at approximately $372,000. Millennium Management LLC boosted its stake in shares of Luminex by 32.0% during the fourth quarter. Millennium Management LLC now owns 940,675 shares of the medical instruments supplier’s stock valued at $18,531,000 after purchasing an additional 228,008 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Luminex by 13.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 171,201 shares of the medical instruments supplier’s stock valued at $3,373,000 after purchasing an additional 20,609 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Luminex by 182.2% during the fourth quarter. Two Sigma Investments LP now owns 96,246 shares of the medical instruments supplier’s stock valued at $1,896,000 after purchasing an additional 62,136 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Luminex by 87.4% during the fourth quarter. Two Sigma Advisers LP now owns 123,926 shares of the medical instruments supplier’s stock valued at $2,441,000 after purchasing an additional 57,800 shares in the last quarter. Institutional investors and hedge funds own 76.64% of the company’s stock.
In other Luminex news, Director G Walter Loewenbaum II sold 39,456 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $20.40, for a total value of $804,902.40. Following the transaction, the director now directly owns 651,736 shares in the company, valued at approximately $13,295,414.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 81,698 shares of company stock worth $1,671,701 over the last 90 days. Insiders own 6.90% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 23rd will be paid a $0.06 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 1.22%. Luminex’s dividend payout ratio is currently 35.82%.
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Luminex Company Profile
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.
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