Luminex (NASDAQ:LMNX) had its target price decreased by Citigroup from $34.00 to $33.00 in a research note released on Tuesday morning. Citigroup currently has a neutral rating on the medical instruments supplier’s stock.
A number of other equities analysts have also recently weighed in on LMNX. Zacks Investment Research cut Luminex from a buy rating to a hold rating in a report on Tuesday, July 10th. Jefferies Financial Group reissued a hold rating and set a $27.00 price objective on shares of Luminex in a report on Tuesday, August 7th. ValuEngine raised Luminex from a buy rating to a strong-buy rating in a report on Monday, October 29th. Finally, BidaskClub raised Luminex from a hold rating to a buy rating in a report on Wednesday, October 31st. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Luminex currently has an average rating of Buy and a consensus price target of $28.40.
Shares of NASDAQ:LMNX traded down $0.47 on Tuesday, hitting $26.61. The company’s stock had a trading volume of 306,857 shares, compared to its average volume of 300,699. Luminex has a 1 year low of $18.62 and a 1 year high of $35.37. The stock has a market cap of $1.24 billion, a P/E ratio of 29.24, a PEG ratio of 3.26 and a beta of 0.34.
Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, November 5th. The medical instruments supplier reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $72.40 million for the quarter, compared to analysts’ expectations of $74.05 million. Luminex had a net margin of 5.65% and a return on equity of 5.99%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. As a group, equities analysts expect that Luminex will post 0.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 21st were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.90%. Luminex’s dividend payout ratio is 26.37%.
Several hedge funds and other institutional investors have recently made changes to their positions in LMNX. Bessemer Group Inc. raised its holdings in shares of Luminex by 949.0% during the 3rd quarter. Bessemer Group Inc. now owns 531,851 shares of the medical instruments supplier’s stock valued at $16,121,000 after buying an additional 481,151 shares in the last quarter. BlackRock Inc. grew its position in Luminex by 6.4% during the 2nd quarter. BlackRock Inc. now owns 6,593,040 shares of the medical instruments supplier’s stock worth $194,692,000 after acquiring an additional 395,549 shares during the last quarter. WINTON GROUP Ltd bought a new position in Luminex during the 2nd quarter worth approximately $11,507,000. Acadian Asset Management LLC grew its position in Luminex by 28.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,576,596 shares of the medical instruments supplier’s stock worth $46,552,000 after acquiring an additional 348,940 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Luminex by 26,778.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 221,476 shares of the medical instruments supplier’s stock worth $6,712,000 after acquiring an additional 220,652 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.
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, an automated multiplex-capable system.
Read More: Discount Rate
Receive News & Ratings for Luminex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminex and related companies with MarketBeat.com's FREE daily email newsletter.