Q3 2017 EPS Estimates for Luminex Corporation Lowered by Jefferies Group (LMNX)
Luminex Corporation (NASDAQ:LMNX) – Equities research analysts at Jefferies Group lowered their Q3 2017 earnings estimates for shares of Luminex Corporation in a report issued on Tuesday. Jefferies Group analyst B. Couillard now anticipates that the medical instruments supplier will post earnings per share of $0.03 for the quarter, down from their prior estimate of $0.06. Jefferies Group currently has a “Hold” rating and a $21.00 price target on the stock. Jefferies Group also issued estimates for Luminex Corporation’s FY2017 earnings at $0.40 EPS, Q1 2018 earnings at $0.13 EPS and FY2018 earnings at $0.46 EPS.
A number of other brokerages have also recently issued reports on LMNX. ValuEngine raised shares of Luminex Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Zacks Investment Research downgraded shares of Luminex Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded shares of Luminex Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Finally, TheStreet downgraded shares of Luminex Corporation from a “b” rating to a “c+” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Luminex Corporation presently has an average rating of “Hold” and a consensus target price of $21.40.
Luminex Corporation (NASDAQ:LMNX) opened at 18.89 on Thursday. The firm has a market capitalization of $832.50 million, a price-to-earnings ratio of 58.48 and a beta of 0.29. Luminex Corporation has a 52-week low of $17.64 and a 52-week high of $23.62. The stock’s 50 day moving average price is $20.04 and its 200 day moving average price is $19.58.
Luminex Corporation (NASDAQ:LMNX) last issued its quarterly earnings data on Monday, August 7th. The medical instruments supplier reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. The company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $75.45 million. Luminex Corporation had a return on equity of 4.81% and a net margin of 4.72%. The business’s revenue was up 19.2% on a year-over-year basis. During the same period last year, the business earned $0.33 earnings per share.
Several institutional investors have recently added to or reduced their stakes in LMNX. Teachers Advisors LLC raised its position in shares of Luminex Corporation by 30.7% in the fourth quarter. Teachers Advisors LLC now owns 83,539 shares of the medical instruments supplier’s stock worth $1,690,000 after buying an additional 19,610 shares in the last quarter. Creative Planning raised its position in shares of Luminex Corporation by 5.4% in the first quarter. Creative Planning now owns 9,256 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 474 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Luminex Corporation by 58.8% in the first quarter. Nationwide Fund Advisors now owns 48,593 shares of the medical instruments supplier’s stock worth $893,000 after buying an additional 17,996 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of Luminex Corporation during the first quarter worth about $823,000. Finally, Eqis Capital Management Inc. raised its position in shares of Luminex Corporation by 18.9% in the first quarter. Eqis Capital Management Inc. now owns 43,470 shares of the medical instruments supplier’s stock worth $799,000 after buying an additional 6,912 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.
In other Luminex Corporation news, Director Robert J. Cresci sold 19,631 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $18.98, for a total transaction of $372,596.38. Following the sale, the director now directly owns 260,358 shares of the company’s stock, valued at $4,941,594.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Walter Loewenbaum II sold 25,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $20.07, for a total transaction of $501,750.00. Following the sale, the director now directly owns 713,896 shares in the company, valued at $14,327,892.72. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
Luminex Corporation Company Profile
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.
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