Luminex (NASDAQ:LMNX) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Luminex (NASDAQ:LMNX) announced its earnings results on Monday, May 6th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.14), Briefing.com reports. Luminex had a return on equity of 1.62% and a net margin of 2.55%. The business had revenue of $82.41 million for the quarter, compared to analysts’ expectations of $83.10 million. During the same period in the previous year, the company earned $0.30 earnings per share. Luminex’s quarterly revenue was down .3% on a year-over-year basis.

Shares of LMNX stock traded up $0.22 during mid-day trading on Thursday, hitting $21.06. The stock had a trading volume of 271,992 shares, compared to its average volume of 313,198. Luminex has a fifty-two week low of $20.24 and a fifty-two week high of $35.37. The stock has a market capitalization of $919.34 million, a PE ratio of 43.88, a price-to-earnings-growth ratio of 18.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.70 and a current ratio of 3.99.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Wednesday, June 19th. Luminex’s dividend payout ratio (DPR) is presently 50.00%.

A number of research analysts recently commented on the stock. BidaskClub downgraded shares of Luminex from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. ValuEngine downgraded shares of Luminex from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. William Blair reiterated a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. Finally, Zacks Investment Research upgraded shares of Luminex from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.33.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Luminex by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 682,988 shares of the medical instruments supplier’s stock worth $20,701,000 after buying an additional 10,250 shares during the period. JPMorgan Chase & Co. increased its position in shares of Luminex by 11.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 154,554 shares of the medical instruments supplier’s stock valued at $4,685,000 after purchasing an additional 16,401 shares during the last quarter. LPL Financial LLC purchased a new stake in shares of Luminex in the 3rd quarter valued at approximately $382,000. MetLife Investment Advisors LLC increased its position in shares of Luminex by 57.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 29,784 shares of the medical instruments supplier’s stock valued at $903,000 after purchasing an additional 10,883 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Luminex by 311.3% in the 3rd quarter. AQR Capital Management LLC now owns 115,634 shares of the medical instruments supplier’s stock valued at $3,505,000 after purchasing an additional 87,521 shares during the last quarter. Institutional investors own 84.71% of the company’s stock.

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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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Earnings History for Luminex (NASDAQ:LMNX)

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