ValuEngine upgraded shares of Luminex (NASDAQ:LMNX) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently issued reports on LMNX. Zacks Investment Research upgraded shares of Luminex from a strong sell rating to a hold rating and set a $17.00 target price for the company in a research note on Tuesday, July 9th. BidaskClub lowered shares of Luminex from a hold rating to a sell rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. Luminex has an average rating of Hold and an average target price of $25.00.

Shares of LMNX traded down $0.03 during trading hours on Thursday, hitting $22.51. The stock had a trading volume of 73,916 shares, compared to its average volume of 142,740. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.74. The firm has a 50-day moving average price of $20.71 and a 200 day moving average price of $21.87. Luminex has a fifty-two week low of $19.41 and a fifty-two week high of $30.73. The firm has a market capitalization of $932.47 million, a price-to-earnings ratio of 46.90 and a beta of 0.78.

Luminex (NASDAQ:LMNX) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Luminex had a negative net margin of 0.80% and a negative return on equity of 0.78%. The firm had revenue of $83.06 million during the quarter, compared to analyst estimates of $81.61 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts predict that Luminex will post -0.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 26th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $0.36 dividend on an annualized basis and a yield of 1.60%. This is an increase from Luminex’s previous quarterly dividend of $0.06. Luminex’s dividend payout ratio (DPR) is 50.00%.

In other Luminex news, CEO Nachum Shamir bought 5,000 shares of Luminex stock in a transaction on Monday, August 26th. The stock was bought at an average price of $19.71 per share, with a total value of $98,550.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. First National Corp MA ADV increased its position in Luminex by 30.0% during the 1st quarter. First National Corp MA ADV now owns 2,600 shares of the medical instruments supplier’s stock worth $60,000 after purchasing an additional 600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Luminex by 68.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the medical instruments supplier’s stock worth $171,000 after purchasing an additional 3,356 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Luminex by 790.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,707 shares of the medical instruments supplier’s stock valued at $223,000 after buying an additional 8,617 shares during the period. Piedmont Investment Advisors Inc. grew its holdings in Luminex by 7.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,695 shares of the medical instruments supplier’s stock valued at $246,000 after buying an additional 695 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in Luminex by 42.6% in the 2nd quarter. WINTON GROUP Ltd now owns 13,314 shares of the medical instruments supplier’s stock valued at $275,000 after buying an additional 3,976 shares during the period. 79.78% of the stock is owned by institutional investors and hedge funds.

Luminex Company Profile

Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.

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