Luminex (NASDAQ:LMNX) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Monday, BidAskClub reports.

Separately, ValuEngine downgraded Luminex from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Luminex has a consensus rating of “Hold” and an average price target of $23.33.

Shares of NASDAQ:LMNX opened at $30.13 on Monday. The company has a market capitalization of $1.40 billion, a PE ratio of -200.85 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.00 and a quick ratio of 2.40. The business has a fifty day moving average price of $30.93 and a two-hundred day moving average price of $27.35. Luminex has a 1 year low of $17.34 and a 1 year high of $40.21.

Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, May 4th. The medical instruments supplier reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $90.40 million during the quarter, compared to the consensus estimate of $82.30 million. Luminex had a negative return on equity of 1.25% and a negative net margin of 1.81%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Sell-side analysts anticipate that Luminex will post 0.17 earnings per share for the current year.

In other news, SVP Randall Myers sold 75,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $31.05, for a total transaction of $2,328,750.00. Following the completion of the transaction, the senior vice president now owns 42,929 shares in the company, valued at approximately $1,332,945.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Walter Loewenbaum II sold 55,505 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $31.02, for a total value of $1,721,765.10. Following the transaction, the director now owns 550,189 shares of the company’s stock, valued at approximately $17,066,862.78. The disclosure for this sale can be found here. Insiders have sold a total of 296,254 shares of company stock valued at $9,133,039 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Mutual of America Capital Management LLC lifted its holdings in Luminex by 22.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,844 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 344 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Luminex during the 4th quarter worth about $49,000. Meeder Asset Management Inc. lifted its holdings in Luminex by 6,283.8% during the 1st quarter. Meeder Asset Management Inc. now owns 2,362 shares of the medical instruments supplier’s stock worth $64,000 after purchasing an additional 2,325 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Luminex by 23.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,451 shares of the medical instruments supplier’s stock worth $56,000 after purchasing an additional 470 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Luminex during the 1st quarter worth about $70,000. 80.71% of the stock is currently 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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