RGM Capital LLC trimmed its holdings in shares of Luminex Co. (NASDAQ:LMNX) by 45.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,731,719 shares of the medical instruments supplier’s stock after selling 1,440,538 shares during the period. Luminex comprises approximately 4.6% of RGM Capital LLC’s portfolio, making the stock its 12th largest position. RGM Capital LLC’s holdings in Luminex were worth $51,138,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of Luminex by 3.5% during the first quarter. Rhumbline Advisers now owns 103,451 shares of the medical instruments supplier’s stock valued at $2,180,000 after acquiring an additional 3,530 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Luminex during the first quarter valued at about $422,000. Great Lakes Advisors LLC raised its stake in shares of Luminex by 46.9% during the first quarter. Great Lakes Advisors LLC now owns 217,787 shares of the medical instruments supplier’s stock valued at $4,589,000 after acquiring an additional 69,560 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Luminex by 9.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 272,312 shares of the medical instruments supplier’s stock valued at $5,738,000 after acquiring an additional 22,516 shares during the last quarter. Finally, Tamarack Advisers LP bought a new position in shares of Luminex during the first quarter valued at about $1,997,000. Institutional investors and hedge funds own 82.23% of the company’s stock.
Several equities analysts have recently commented on LMNX shares. Zacks Investment Research downgraded shares of Luminex from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. ValuEngine downgraded shares of Luminex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Citigroup upped their price objective on shares of Luminex from $23.00 to $34.00 and gave the company a “$33.58” rating in a research note on Monday, July 23rd. BidaskClub raised shares of Luminex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 24th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $27.00 price target on shares of Luminex in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Luminex presently has an average rating of “Hold” and a consensus price target of $28.60.
LMNX stock opened at $28.42 on Wednesday. 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 $1.26 billion, a P/E ratio of 31.23, a P/E/G ratio of 3.25 and a beta of 0.25.
Luminex (NASDAQ:LMNX) last released its quarterly earnings results on Monday, August 6th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). Luminex had a return on equity of 7.44% and a net margin of 10.57%. The company had revenue of $79.60 million during the quarter, compared to the consensus estimate of $79.66 million. During the same period in the previous year, the company earned $0.26 earnings per share. Luminex’s quarterly revenue was up 4.1% on a year-over-year basis. analysts anticipate that Luminex Co. will post 0.58 EPS for the current year.
In related news, Director G Walter Loewenbaum II sold 40,797 shares of the stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $31.03, for a total value of $1,265,930.91. Following the completion of the transaction, the director now directly owns 491,151 shares of the company’s stock, valued at $15,240,415.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is owned by corporate insiders.
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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