William Blair Reiterates “Market Perform” Rating for Luminex (LMNX)

William Blair restated their market perform rating on shares of Luminex (NASDAQ:LMNX) in a report released on Tuesday, May 7th, Zacks.com reports. William Blair also issued estimates for Luminex’s Q3 2019 earnings at $0.07 EPS, Q4 2019 earnings at $0.10 EPS and FY2019 earnings at $0.17 EPS.

Other equities analysts have also issued reports about the company. BidaskClub upgraded Luminex from a sell rating to a hold rating in a research note on Tuesday, May 7th. Zacks Investment Research lowered Luminex from a hold rating to a sell rating in a research note on Monday, April 8th. Finally, ValuEngine lowered Luminex from a strong-buy rating to a buy rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of Hold and an average price target of $31.33.

Shares of NASDAQ LMNX traded up $0.04 during trading on Tuesday, reaching $21.10. The company had a trading volume of 167,300 shares, compared to its average volume of 312,409. Luminex has a twelve month low of $20.24 and a twelve month high of $35.37. The stock has a market cap of $937.33 million, a price-to-earnings ratio of 43.96, a price-to-earnings-growth ratio of 19.30 and a beta of 0.75. The company has a quick ratio of 2.70, a current ratio of 3.99 and a debt-to-equity ratio of 0.04.

Luminex (NASDAQ:LMNX) last released its quarterly earnings results on Monday, May 6th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.14). Luminex had a return on equity of 1.62% and a net margin of 2.55%. The company had revenue of $82.41 million during the quarter, compared to analyst estimates of $83.10 million. During the same period last year, the firm earned $0.30 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, analysts anticipate that Luminex will post 0.07 EPS for the current year.

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

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Luminex in the fourth quarter worth about $22,764,000. Bessemer Group Inc. boosted its position in shares of Luminex by 63.0% in the fourth quarter. Bessemer Group Inc. now owns 866,888 shares of the medical instruments supplier’s stock worth $20,034,000 after buying an additional 335,037 shares during the period. Elk Creek Partners LLC purchased a new stake in shares of Luminex in the first quarter worth about $7,105,000. Kennedy Capital Management Inc. purchased a new stake in shares of Luminex in the first quarter worth about $6,162,000. Finally, Vanguard Group Inc boosted its position in shares of Luminex by 4.8% in the third quarter. Vanguard Group Inc now owns 4,268,240 shares of the medical instruments supplier’s stock worth $129,370,000 after buying an additional 194,226 shares during the period. 84.71% of the stock is owned by hedge funds and other institutional investors.

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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