Luminex Corporation (NASDAQ:LMNX) – Research analysts at Jefferies Group raised their FY2017 earnings estimates for Luminex Corporation in a research note issued to investors on Thursday. Jefferies Group analyst B. Couillard now forecasts that the medical instruments supplier will post earnings per share of $0.49 for the year, up from their prior forecast of $0.40. Jefferies Group has a “Hold” rating and a $21.00 price objective on the stock. Jefferies Group also issued estimates for Luminex Corporation’s Q3 2018 earnings at $0.14 EPS and FY2019 earnings at $0.67 EPS.
Luminex Corporation (NASDAQ:LMNX) last posted its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.06. Luminex Corporation had a net margin of 9.52% and a return on equity of 6.01%. The firm had revenue of $74.14 million for the quarter, compared to analyst estimates of $74.38 million. During the same period in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: “Jefferies Group Research Analysts Increase Earnings Estimates for Luminex Corporation (LMNX)” was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://transcriptdaily.com/2017/11/14/jefferies-group-research-analysts-increase-earnings-estimates-for-luminex-corporation-lmnx.html.
A number of other equities research analysts have also weighed in on LMNX. TheStreet lowered shares of Luminex Corporation from a “b” rating to a “c+” rating in a report on Monday, August 7th. BidaskClub downgraded shares of Luminex Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine upgraded shares of Luminex Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded shares of Luminex Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $20.00.
Shares of Luminex Corporation (NASDAQ:LMNX) opened at $20.97 on Monday. Luminex Corporation has a 1-year low of $17.68 and a 1-year high of $22.27. The firm has a market cap of $921.18, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 2.63 and a beta of 0.18.
In related news, Director Robert J. Cresci sold 19,631 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $18.98, for a total transaction of $372,596.38. Following the transaction, the director now owns 260,358 shares in the company, valued at approximately $4,941,594.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Luminex Corporation by 14.1% during the 2nd quarter. BlackRock Inc. now owns 5,776,500 shares of the medical instruments supplier’s stock valued at $121,999,000 after acquiring an additional 713,436 shares during the period. Vanguard Group Inc. lifted its position in shares of Luminex Corporation by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,479,055 shares of the medical instruments supplier’s stock valued at $73,477,000 after acquiring an additional 32,995 shares during the period. Renaissance Technologies LLC lifted its position in shares of Luminex Corporation by 15.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,841,540 shares of the medical instruments supplier’s stock valued at $38,893,000 after acquiring an additional 252,299 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Luminex Corporation by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,819,417 shares of the medical instruments supplier’s stock valued at $36,989,000 after acquiring an additional 61,437 shares during the period. Finally, State Street Corp raised its holdings in Luminex Corporation by 6.1% during the second quarter. State Street Corp now owns 1,071,007 shares of the medical instruments supplier’s stock worth $22,620,000 after buying an additional 61,218 shares during the last quarter. Institutional investors own 76.84% of the company’s stock.
Luminex Corporation Company Profile
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.
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