Luminex (LMNX) Reaches New 1-Year High and Low at $22.56

Luminex Co. (NASDAQ:LMNX)’s share price hit a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $22.56 and last traded at $22.43, with a volume of 84913 shares trading hands. The stock had previously closed at $22.18.

A number of equities analysts recently issued reports on LMNX shares. BidaskClub downgraded Luminex from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 24th. BTIG Research started coverage on Luminex in a report on Friday, January 5th. They issued a “buy” rating and a $24.00 price target for the company. ValuEngine raised Luminex from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, William Blair reaffirmed a “market perform” rating on shares of Luminex in a report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.33.

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The firm has a market cap of $997.03, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.11 and a beta of 0.11.

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, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The business had revenue of $78.20 million during the quarter, compared to the consensus estimate of $77.33 million. Luminex had a return on equity of 8.48% and a net margin of 9.48%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. research analysts anticipate that Luminex Co. will post 0.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Friday, March 23rd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, March 22nd. Luminex’s payout ratio is currently 26.37%.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Luminex by 0.6% in the fourth quarter. BlackRock Inc. now owns 6,117,732 shares of the medical instruments supplier’s stock valued at $120,518,000 after acquiring an additional 33,557 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Luminex by 17.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,246,640 shares of the medical instruments supplier’s stock valued at $44,259,000 after acquiring an additional 334,900 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Luminex by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,819,417 shares of the medical instruments supplier’s stock valued at $36,989,000 after acquiring an additional 61,437 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Luminex by 9.6% in the third quarter. Neuberger Berman Group LLC now owns 1,015,916 shares of the medical instruments supplier’s stock valued at $20,654,000 after acquiring an additional 89,141 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Luminex by 32.0% in the fourth quarter. Millennium Management LLC now owns 940,675 shares of the medical instruments supplier’s stock valued at $18,531,000 after acquiring an additional 228,008 shares during the period. 80.75% of the stock is owned by institutional investors and hedge funds.

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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, an automated multiplex-capable system.

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