Luminex Corp. (LMNX) Receives New Coverage from Analysts at Avondale Partners
Research analysts at Avondale Partners began coverage on shares of Luminex Corp. (NASDAQ:LMNX) in a research report issued to clients and investors on Wednesday. The firm set an “outperform” rating on the stock.
A number of other research firms have also recently commented on LMNX. Zacks Investment Research cut shares of Luminex Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Jefferies Group raised their target price on shares of Luminex Corp. from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. upgraded shares of Luminex Corp. from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $18.00 to $22.00 in a research note on Thursday, August 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $22.20.
Luminex Corp. (NASDAQ:LMNX) opened at 22.89 on Wednesday. The firm has a market cap of $996.81 million, a price-to-earnings ratio of 23.89 and a beta of 0.42. The firm’s 50 day moving average is $21.99 and its 200-day moving average is $20.95. Luminex Corp. has a 12 month low of $17.29 and a 12 month high of $23.75.
Luminex Corp. (NASDAQ:LMNX) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. The company had revenue of $64.20 million for the quarter, compared to the consensus estimate of $61.20 million. Luminex Corp. had a net margin of 16.60% and a return on equity of 13.65%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that Luminex Corp. will post $0.63 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Luminex Corp. by 116.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,491 shares of the company’s stock valued at $253,000 after buying an additional 6,709 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Luminex Corp. during the first quarter valued at $238,000. Renaissance Technologies LLC boosted its stake in shares of Luminex Corp. by 19.1% in the first quarter. Renaissance Technologies LLC now owns 1,007,840 shares of the company’s stock valued at $19,552,000 after buying an additional 161,800 shares in the last quarter. RGM Capital LLC boosted its stake in shares of Luminex Corp. by 15.8% in the first quarter. RGM Capital LLC now owns 1,645,903 shares of the company’s stock valued at $31,931,000 after buying an additional 225,055 shares in the last quarter. Finally, Hancock Holding Co. boosted its stake in shares of Luminex Corp. by 0.9% in the first quarter. Hancock Holding Co. now owns 420,355 shares of the company’s stock valued at $8,155,000 after buying an additional 3,740 shares in the last quarter. Hedge funds and other institutional investors own 79.85% of the company’s stock.
About Luminex Corp.
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company has a range of instruments using its xMAP technology, including its LUMINEX 100/200 systems offer 100-plex testing; the Company’s FLEXMAP 3D system is its high-throughput, 500-plex testing system, and its MAGPIX system provides 50-plex testing using imaging rather than flow cytometry.
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