Luminex Corp. (LMNX) Director Sells $1,028,500.00 in Stock
Luminex Corp. (NASDAQ:LMNX) Director G Walter Loewenbaum II sold 50,000 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $20.57, for a total transaction of $1,028,500.00. Following the completion of the sale, the director now directly owns 749,414 shares of the company’s stock, valued at approximately $15,415,445.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Luminex Corp. (NASDAQ:LMNX) traded down 1.98% on Wednesday, hitting $20.33. 119,505 shares of the stock traded hands. The firm’s 50-day moving average price is $20.93 and its 200-day moving average price is $21.17. Luminex Corp. has a 12-month low of $17.29 and a 12-month high of $23.75. The stock has a market cap of $886.06 million, a price-to-earnings ratio of 23.45 and a beta of 0.57.
Luminex Corp. (NASDAQ:LMNX) last released its quarterly earnings results on Monday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.09. The business earned $71.20 million during the quarter, compared to the consensus estimate of $68.90 million. Luminex Corp. had a return on equity of 11.95% and a net margin of 14.51%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. On average, equities research analysts anticipate that Luminex Corp. will post $0.52 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Luminex Corp. during the second quarter valued at about $1,973,000. Emerald Acquisition Ltd. purchased a new position in Luminex Corp. during the second quarter valued at about $4,729,000. Capital Fund Management S.A. purchased a new position in Luminex Corp. during the second quarter valued at about $229,000. Teacher Retirement System of Texas increased its position in 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 during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Luminex Corp. by 24.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 23,000 shares of the company’s stock valued at $457,000 after buying an additional 4,500 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on LMNX. Avondale Partners began coverage on shares of Luminex Corp. in a report on Wednesday, October 12th. They issued an “outperform” rating and a $27.00 price objective for the company. JPMorgan Chase & Co. raised shares of Luminex Corp. from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $18.00 to $22.00 in a report on Thursday, August 18th. William Blair reissued a “market perform” rating on shares of Luminex Corp. in a report on Tuesday, November 1st. Finally, Zacks Investment Research lowered shares of Luminex Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.00.
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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