Principal Financial Group Inc. lifted its stake in Luminex Co. (NASDAQ:LMNX) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,799 shares of the medical instruments supplier’s stock after purchasing an additional 9,050 shares during the period. Principal Financial Group Inc. owned 0.74% of Luminex worth $6,949,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of LMNX. Wells Fargo & Company MN increased its stake in shares of Luminex by 47.6% during the fourth quarter. Wells Fargo & Company MN now owns 67,561 shares of the medical instruments supplier’s stock valued at $1,331,000 after buying an additional 21,789 shares during the period. TIAA CREF Investment Management LLC grew its stake in Luminex by 13.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 171,201 shares of the medical instruments supplier’s stock valued at $3,373,000 after purchasing an additional 20,609 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in Luminex in the fourth quarter valued at about $372,000. Rhumbline Advisers grew its stake in Luminex by 3.5% in the first quarter. Rhumbline Advisers now owns 103,451 shares of the medical instruments supplier’s stock valued at $2,180,000 after purchasing an additional 3,530 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Luminex in the first quarter valued at about $422,000. 83.09% of the stock is owned by institutional investors and hedge funds.
LMNX opened at $26.79 on Friday. Luminex Co. has a 1 year low of $18.62 and a 1 year high of $35.37. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 3.42 and a beta of 0.31.
Luminex (NASDAQ:LMNX) last issued its quarterly earnings results on Monday, August 6th. The medical instruments supplier reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $79.60 million during the quarter, compared to analyst estimates of $79.66 million. Luminex had a return on equity of 7.44% and a net margin of 10.57%. Luminex’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. equities research analysts expect that Luminex Co. will post 0.58 EPS for the current fiscal year.
Several equities analysts have issued reports on the company. BTIG Research set a $26.00 target price on Luminex and gave the company a “buy” rating in a research note on Tuesday, May 8th. ValuEngine lowered Luminex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered Luminex from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. BidaskClub upgraded Luminex from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Deutsche Bank upgraded Luminex from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Luminex presently has a consensus rating of “Hold” and an average target price of $28.60.
In other Luminex news, Director G Walter Loewenbaum II sold 29,994 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $27.34, for a total value of $820,035.96. Following the completion of the sale, the director now owns 522,536 shares of the company’s stock, valued at $14,286,134.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Charles J. Collins sold 17,022 shares of the firm’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $27.75, for a total value of $472,360.50. Following the completion of the sale, the senior vice president now directly owns 39,994 shares of the company’s stock, valued at approximately $1,109,833.50. The disclosure for this sale can be found here. In the last three months, insiders sold 93,261 shares of company stock valued at $2,719,429. Corporate insiders own 7.40% 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, an automated multiplex-capable system.
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