Luminex (NASDAQ:LMNX) Stock Price Up 7.7%

Luminex Co. (NASDAQ:LMNX)’s stock price rose 7.7% during trading on Wednesday . The stock traded as high as $22.30 and last traded at $22.29, approximately 92,690 shares were traded during mid-day trading. A decline of 66% from the average daily volume of 273,227 shares. The stock had previously closed at $20.70.

LMNX has been the subject of several research analyst reports. Zacks Investment Research raised 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 report on Tuesday, July 9th. ValuEngine raised shares of Luminex from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, BidaskClub cut shares of Luminex from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.00.

The company’s 50-day moving average price is $20.74 and its 200 day moving average price is $21.85. 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 stock has a market capitalization of $932.47 million, a PE ratio of 47.06 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) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.09). Luminex had a negative return on equity of 0.78% and a negative net margin of 0.80%. The company had revenue of $83.06 million during the quarter, compared to analysts’ expectations of $81.61 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Luminex Co. will post -0.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 26th will be given a dividend of $0.09 per share. This is a boost from Luminex’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, September 25th. Luminex’s dividend payout ratio (DPR) is 50.00%.

In other Luminex news, CEO Nachum Shamir purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $19.71 per share, with a total value of $98,550.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Luminex by 4.2% during the 2nd quarter. BlackRock Inc. now owns 6,783,282 shares of the medical instruments supplier’s stock valued at $140,006,000 after acquiring an additional 271,981 shares during the period. Vanguard Group Inc. lifted its position in Luminex by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,495,475 shares of the medical instruments supplier’s stock valued at $92,787,000 after acquiring an additional 34,902 shares during the period. RGM Capital LLC lifted its position in Luminex by 19.8% during the 2nd quarter. RGM Capital LLC now owns 3,060,317 shares of the medical instruments supplier’s stock valued at $63,165,000 after acquiring an additional 505,040 shares during the period. Neuberger Berman Group LLC lifted its position in Luminex by 11.0% during the 1st quarter. Neuberger Berman Group LLC now owns 1,006,558 shares of the medical instruments supplier’s stock valued at $23,162,000 after acquiring an additional 99,655 shares during the period. Finally, Northern Trust Corp lifted its position in Luminex by 2.3% during the 2nd quarter. Northern Trust Corp now owns 967,038 shares of the medical instruments supplier’s stock valued at $19,960,000 after acquiring an additional 21,366 shares during the period. 79.78% of the stock is owned by institutional investors.

Luminex Company Profile (NASDAQ:LMNX)

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.

Read More: Dividend Reinvestment Plan (DRIP)

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