Luminex Co. (NASDAQ:LMNX) – Analysts at Jefferies Financial Group reduced their Q2 2019 earnings per share estimates for Luminex in a research report issued to clients and investors on Wednesday, November 7th. Jefferies Financial Group analyst B. Couillard now forecasts that the medical instruments supplier will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.12. Jefferies Financial Group currently has a “Hold” rating and a $27.00 target price on the stock. Jefferies Financial Group also issued estimates for Luminex’s Q3 2019 earnings at $0.06 EPS and FY2019 earnings at $0.43 EPS.
A number of other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of Luminex from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine cut shares of Luminex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Luminex from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Citigroup cut their price objective on shares of Luminex from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Luminex has a consensus rating of “Buy” and a consensus price target of $28.40.
Luminex (NASDAQ:LMNX) last issued its quarterly earnings data on Monday, November 5th. The medical instruments supplier reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Luminex had a net margin of 5.65% and a return on equity of 5.99%. The company had revenue of $72.40 million for the quarter, compared to the consensus estimate of $74.05 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Luminex’s revenue for the quarter was down 2.3% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in Luminex in the third quarter worth about $2,291,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Luminex in the second quarter worth about $1,187,000. BlackRock Inc. raised its position in Luminex by 6.4% in the second quarter. BlackRock Inc. now owns 6,593,040 shares of the medical instruments supplier’s stock worth $194,692,000 after acquiring an additional 395,549 shares in the last quarter. Strs Ohio raised its position in Luminex by 89.4% in the second quarter. Strs Ohio now owns 33,900 shares of the medical instruments supplier’s stock worth $1,001,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Luminex by 2.8% in the first quarter. Principal Financial Group Inc. now owns 329,799 shares of the medical instruments supplier’s stock worth $6,949,000 after acquiring an additional 9,050 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 21st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, September 20th. Luminex’s dividend payout ratio (DPR) is presently 26.37%.
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, an automated multiplex-capable system.
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