Luminex (NASDAQ:LMNX) Reaches New 12-Month Low at $19.41

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Luminex Co. (NASDAQ:LMNX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $19.41 and last traded at $19.48, with a volume of 1224 shares trading hands. The stock had previously closed at $19.79.

LMNX has been the topic of a number of research reports. William Blair reiterated a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. BidaskClub raised shares of Luminex from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. ValuEngine raised shares of Luminex from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Luminex from a “strong sell” rating to a “hold” rating and set a $17.00 price objective for the company in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Luminex presently has a consensus rating of “Hold” and a consensus price target of $25.00.

The firm has a market cap of $891.09 million, a PE ratio of 41.19 and a beta of 0.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.74. The firm’s 50-day moving average price is $20.56 and its two-hundred day moving average price is $22.25.

Luminex (NASDAQ:LMNX) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The business had revenue of $83.06 million during the quarter, compared to analysts’ expectations of $81.61 million. Luminex had a negative net margin of 0.80% and a negative return on equity of 0.78%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. As a group, sell-side analysts predict that Luminex Co. will post -0.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This is a positive change from Luminex’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. Luminex’s payout ratio is currently 50.00%.

In other news, CEO Nachum Shamir bought 5,000 shares of Luminex stock in a transaction on Monday, August 26th. The shares were bought at an average cost of $19.71 per share, for a total transaction of $98,550.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.70% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of LMNX. First National Corp MA ADV increased its holdings in Luminex by 30.0% during the 1st quarter. First National Corp MA ADV now owns 2,600 shares of the medical instruments supplier’s stock worth $60,000 after purchasing an additional 600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Luminex by 68.3% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the medical instruments supplier’s stock worth $171,000 after acquiring an additional 3,356 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Luminex by 790.6% during the first quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock worth $223,000 after acquiring an additional 8,617 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of Luminex by 7.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 10,695 shares of the medical instruments supplier’s stock worth $246,000 after acquiring an additional 695 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in shares of Luminex by 42.6% in the second quarter. WINTON GROUP Ltd now owns 13,314 shares of the medical instruments supplier’s stock worth $275,000 after purchasing an additional 3,976 shares during the period. 79.69% of the stock is owned by institutional investors.

Luminex Company Profile (NASDAQ:LMNX)

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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.

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