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.

ILLEGAL ACTIVITY NOTICE: This piece was originally published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2016/11/30/luminex-corp-lmnx-director-sells-1028500-00-in-stock.html.

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.

5 Day Chart for NASDAQ:LMNX

Receive News & Stock Ratings for Luminex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminex Corp. and related stocks with our FREE daily email newsletter.