Luminex (NASDAQ:LMNX) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Luminex (NASDAQ:LMNX) from a hold rating to a buy rating in a report published on Monday, BidAskClub reports.

Separately, ValuEngine downgraded Luminex from a buy rating to a hold rating in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $23.33.

Shares of Luminex stock opened at $32.02 on Monday. The company has a quick ratio of 2.40, a current ratio of 4.00 and a debt-to-equity ratio of 0.04. Luminex has a 12-month low of $17.34 and a 12-month high of $40.21. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -213.45 and a beta of 0.67. The firm’s 50-day moving average price is $30.79 and its two-hundred day moving average price is $27.45.

Luminex (NASDAQ:LMNX) last issued its quarterly earnings results on Monday, May 4th. The medical instruments supplier reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $90.40 million during the quarter, compared to the consensus estimate of $82.30 million. Luminex had a negative net margin of 1.81% and a negative return on equity of 1.25%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. On average, sell-side analysts expect that Luminex will post 0.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, June 17th. Luminex’s dividend payout ratio (DPR) is presently -171.43%.

In other news, Director G Walter Loewenbaum II sold 55,505 shares of Luminex stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $31.02, for a total transaction of $1,721,765.10. Following the sale, the director now directly owns 550,189 shares of the company’s stock, valued at $17,066,862.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nachum Shamir sold 79,092 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $30.00, for a total value of $2,372,760.00. Following the sale, the chief executive officer now owns 234,932 shares in the company, valued at $7,047,960. The disclosure for this sale can be found here. In the last three months, insiders sold 296,254 shares of company stock valued at $9,133,039. 9.40% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Swiss National Bank grew its holdings in Luminex by 2.1% during the 4th quarter. Swiss National Bank now owns 77,500 shares of the medical instruments supplier’s stock worth $1,795,000 after acquiring an additional 1,600 shares during the last quarter. State Street Corp lifted its holdings in shares of Luminex by 6.9% during the fourth quarter. State Street Corp now owns 1,292,371 shares of the medical instruments supplier’s stock worth $30,023,000 after purchasing an additional 83,412 shares during the period. Victory Capital Management Inc. grew its stake in shares of Luminex by 32.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,252 shares of the medical instruments supplier’s stock worth $214,000 after purchasing an additional 2,287 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Luminex by 23.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,451 shares of the medical instruments supplier’s stock valued at $56,000 after purchasing an additional 470 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Luminex by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 261,514 shares of the medical instruments supplier’s stock worth $6,057,000 after purchasing an additional 9,170 shares during the last quarter. Institutional investors and hedge funds own 80.71% of the company’s stock.

About Luminex

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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