Analysts Anticipate Luminex Co. (LMNX) Will Post Quarterly Sales of $80.40 Million

Equities research analysts predict that Luminex Co. (NASDAQ:LMNX) will post sales of $80.43 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Luminex’s earnings, with the lowest sales estimate coming in at $80.00 million and the highest estimate coming in at $80.84 million. Luminex reported sales of $77.78 million in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The business is expected to announce its next earnings report on Monday, May 7th.

On average, analysts expect that Luminex will report full year sales of $80.43 million for the current year, with estimates ranging from $311.00 million to $314.83 million. For the next fiscal year, analysts anticipate that the business will post sales of $318.23 million per share, with estimates ranging from $311.54 million to $328.14 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Luminex.

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Luminex (NASDAQ:LMNX) last announced its quarterly earnings data on Monday, February 12th. The medical instruments supplier reported $0.20 EPS for the quarter, topping the consensus estimate of $0.09 by $0.11. The business had revenue of $78.20 million for the quarter, compared to analyst estimates of $77.33 million. Luminex had a net margin of 9.48% and a return on equity of 8.48%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share.

Several analysts have commented on LMNX shares. BTIG Research started coverage on shares of Luminex in a research report on Friday, January 5th. They issued a “buy” rating and a $24.00 price objective on the stock. BidaskClub raised shares of Luminex from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, William Blair reaffirmed a “market perform” rating on shares of Luminex in a research report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $22.33.

Shares of LMNX stock opened at $21.61 on Wednesday. The company has a market cap of $955.74, a PE ratio of 26.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.16. Luminex has a 12-month low of $17.70 and a 12-month high of $22.42.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be paid a $0.06 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $0.24 annualized dividend and a dividend yield of 1.11%. Luminex’s payout ratio is 35.82%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Luminex by 0.6% in the fourth quarter. BlackRock Inc. now owns 6,117,732 shares of the medical instruments supplier’s stock worth $120,518,000 after purchasing an additional 33,557 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Luminex by 17.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,246,640 shares of the medical instruments supplier’s stock worth $44,259,000 after purchasing an additional 334,900 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Luminex by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,819,417 shares of the medical instruments supplier’s stock worth $36,989,000 after purchasing an additional 61,437 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Luminex by 9.6% in the third quarter. Neuberger Berman Group LLC now owns 1,015,916 shares of the medical instruments supplier’s stock worth $20,654,000 after purchasing an additional 89,141 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Luminex by 32.0% in the fourth quarter. Millennium Management LLC now owns 940,675 shares of the medical instruments supplier’s stock worth $18,531,000 after purchasing an additional 228,008 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.

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About Luminex

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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