Luminex (LMNX) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Luminex (NASDAQ:LMNX) from a hold rating to a buy rating in a research report sent to investors on Friday.

Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Luminex from a hold rating to a buy rating in a report on Tuesday, April 17th. Zacks Investment Research upgraded shares of Luminex from a hold rating to a buy rating and set a $27.00 target price for the company in a report on Wednesday, May 9th. BTIG Research set a $26.00 price objective on shares of Luminex and gave the stock a buy rating in a research note on Tuesday, May 8th. Deutsche Bank upgraded shares of Luminex from a sell rating to a hold rating and set a $22.00 price objective for the company in a research note on Monday, May 7th. Finally, William Blair reiterated a market perform rating on shares of Luminex in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Luminex has an average rating of Hold and an average price target of $24.00.

Luminex opened at $25.72 on Friday, MarketBeat Ratings reports. Luminex has a 1 year low of $25.75 and a 1 year high of $26.22. The company has a market capitalization of $1.16 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.14 and a beta of 0.11.

Luminex (NASDAQ:LMNX) last released its earnings results on Monday, May 7th. The medical instruments supplier reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Luminex had a net margin of 10.60% and a return on equity of 8.07%. The firm had revenue of $82.60 million during the quarter, compared to the consensus estimate of $80.52 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Luminex’s revenue was up 6.2% compared to the same quarter last year. equities analysts anticipate that Luminex will post 0.75 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. grew its stake in Luminex by 12.2% during the first quarter. Citigroup Inc. now owns 18,527 shares of the medical instruments supplier’s stock worth $390,000 after buying an additional 2,019 shares during the period. Aperio Group LLC grew its stake in Luminex by 7.9% during the fourth quarter. Aperio Group LLC now owns 34,333 shares of the medical instruments supplier’s stock worth $676,000 after buying an additional 2,521 shares during the period. Northern Trust Corp grew its stake in Luminex by 0.3% during the first quarter. Northern Trust Corp now owns 955,107 shares of the medical instruments supplier’s stock worth $20,124,000 after buying an additional 3,154 shares during the period. Rhumbline Advisers grew its stake in Luminex by 3.5% during the first quarter. Rhumbline Advisers now owns 103,451 shares of the medical instruments supplier’s stock worth $2,180,000 after buying an additional 3,530 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Luminex by 4.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 91,170 shares of the medical instruments supplier’s stock worth $1,796,000 after buying an additional 3,710 shares during the period. Institutional investors own 80.19% 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; 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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