Luminex Co. (NASDAQ:LMNX) to Issue Quarterly Dividend of $0.09

Luminex Co. (NASDAQ:LMNX) announced a quarterly dividend on Wednesday, September 16th, Wall Street Journal reports. Stockholders of record on Thursday, September 24th will be paid a dividend of 0.09 per share by the medical instruments supplier on Thursday, October 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Wednesday, September 23rd.

Shares of NASDAQ LMNX traded up $0.29 during trading hours on Wednesday, hitting $24.68. 393,593 shares of the company’s stock were exchanged, compared to its average volume of 654,941. The company’s 50-day moving average price is $30.20 and its 200-day moving average price is $30.62. Luminex has a 1-year low of $17.34 and a 1-year high of $41.69. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 107.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.39, a current ratio of 7.25 and a quick ratio of 5.77.

Luminex (NASDAQ:LMNX) last issued its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.19. Luminex had a return on equity of 2.38% and a net margin of 3.04%. The company had revenue of $109.52 million for the quarter, compared to the consensus estimate of $107.33 million. During the same period in the previous year, the business posted ($0.11) EPS. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, research analysts expect that Luminex will post 0.81 earnings per share for the current year.

A number of analysts have weighed in on LMNX shares. Zacks Investment Research downgraded shares of Luminex from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Friday, September 4th. BidaskClub cut shares of Luminex from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Piper Sandler started coverage on Luminex in a research note on Tuesday, August 18th. They set a “buy” rating and a $38.00 price target on the stock. Finally, TheStreet upgraded Luminex from a “c” rating to a “b” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.25.

In other Luminex news, CEO Nachum Shamir sold 250,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $39.03, for a total transaction of $9,757,500.00. Following the completion of the transaction, the chief executive officer now directly owns 314,024 shares in the company, valued at $12,256,356.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nancy Fairchild sold 23,475 shares of Luminex stock in a transaction on Monday, July 6th. The shares were sold at an average price of $33.00, for a total value of $774,675.00. Following the transaction, the senior vice president now directly owns 60,899 shares of the company’s stock, valued at $2,009,667. The disclosure for this sale can be found here. Insiders have sold 649,397 shares of company stock worth $24,519,194 over the last ninety days. Company insiders own 9.40% of the company’s stock.

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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Dividend History for Luminex (NASDAQ:LMNX)

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