Equities research analysts predict that Luminex Co. (NASDAQ:LMNX) will announce sales of $81.63 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Luminex’s earnings, with estimates ranging from $80.68 million to $82.55 million. Luminex reported sales of $72.45 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The company is scheduled to report its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Luminex will report full-year sales of $340.33 million for the current fiscal year, with estimates ranging from $339.27 million to $341.50 million. For the next financial year, analysts expect that the company will post sales of $376.75 million, with estimates ranging from $366.79 million to $390.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Luminex.
Luminex (NASDAQ:LMNX) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.09). Luminex had a negative return on equity of 0.78% and a negative net margin of 0.80%. The business had revenue of $83.06 million during the quarter, compared to analyst estimates of $81.61 million. During the same quarter last year, the firm posted $0.15 EPS. The company’s revenue was up 4.4% compared to the same quarter last year.
LMNX has been the topic of several recent analyst reports. Zacks Investment Research upgraded Luminex from a “strong sell” rating to a “hold” rating and set a $17.00 price target on the stock in a research note on Tuesday, July 9th. William Blair restated a “market perform” rating on shares of Luminex in a research note on Tuesday, May 7th. BidaskClub upgraded Luminex from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, ValuEngine upgraded Luminex from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Luminex presently has a consensus rating of “Hold” and a consensus target price of $25.00.
Shares of NASDAQ:LMNX traded up $0.18 during trading on Friday, hitting $20.63. The company’s stock had a trading volume of 102,200 shares, compared to its average volume of 285,603. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.74. Luminex has a fifty-two week low of $19.47 and a fifty-two week high of $30.73. The stock’s 50-day moving average price is $20.64 and its two-hundred day moving average price is $22.54. The company has a market capitalization of $918.57 million, a PE ratio of 42.98 and a beta of 0.77.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.09 per share. The ex-dividend date is Wednesday, September 25th. This represents a $0.36 annualized dividend and a yield of 1.75%. This is a boost from Luminex’s previous quarterly dividend of $0.06. Luminex’s dividend payout ratio is presently 50.00%.
A number of hedge funds and other institutional investors have recently made changes to their positions in LMNX. Norges Bank acquired a new stake in Luminex during the fourth quarter valued at approximately $22,764,000. Nuveen Asset Management LLC bought a new position in shares of Luminex during the second quarter valued at approximately $10,618,000. RGM Capital LLC grew its holdings in shares of Luminex by 19.8% during the second quarter. RGM Capital LLC now owns 3,060,317 shares of the medical instruments supplier’s stock valued at $63,165,000 after purchasing an additional 505,040 shares during the last quarter. Elk Creek Partners LLC bought a new position in shares of Luminex during the first quarter valued at approximately $7,105,000. Finally, BlackRock Inc. grew its holdings in shares of Luminex by 4.2% during the second quarter. BlackRock Inc. now owns 6,783,282 shares of the medical instruments supplier’s stock valued at $140,006,000 after purchasing an additional 271,981 shares during the last quarter. Hedge funds and other institutional investors own 82.49% 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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