Brokerages Set Luminex Corp. (LMNX) Target Price at $22.80
Luminex Corp. (NASDAQ:LMNX) has received a consensus rating of “Hold” from the seven ratings firms that are covering the firm. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.80.
A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Luminex Corp. from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $22.00 in a research note on Thursday, August 18th. Zacks Investment Research downgraded shares of Luminex Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Jefferies Group lifted their price target 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, Avondale Partners assumed coverage on shares of Luminex Corp. in a research note on Wednesday, October 12th. They issued an “outperform” rating and a $27.00 price target for the company.
Luminex Corp. (NASDAQ:LMNX) opened at 22.16 on Friday. The firm has a market cap of $965.02 million, a price-to-earnings ratio of 23.13 and a beta of 0.42. Luminex Corp. has a 52 week low of $17.29 and a 52 week high of $23.75. The firm’s 50-day moving average is $22.06 and its 200-day moving average is $20.99.
Luminex Corp. (NASDAQ:LMNX) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The firm earned $64.20 million during the quarter, compared to analysts’ expectations of $61.20 million. Luminex Corp. had a net margin of 16.60% and a return on equity of 13.65%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that Luminex Corp. will post $0.63 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in shares of Luminex Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,429 shares of the company’s stock valued at $110,000 after buying an additional 659 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Luminex Corp. during the second quarter valued at $153,000. Huntington Asset Advisors Inc. bought a new stake in shares of Luminex Corp. during the first quarter valued at $194,000. Creative Planning increased its stake in shares of Luminex Corp. by 1.6% in the third quarter. Creative Planning now owns 8,923 shares of the company’s stock valued at $203,000 after buying an additional 141 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Luminex Corp. by 30.9% in the second quarter. Legal & General Group Plc now owns 10,357 shares of the company’s stock valued at $207,000 after buying an additional 2,446 shares in the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.
Luminex Corp. Company Profile
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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