Equities research analysts forecast that Luminex Co. (NASDAQ:LMNX) will post $0.08 earnings per share for the current quarter, Zacks reports. Five analysts have provided estimates for Luminex’s earnings. The highest EPS estimate is $0.13 and the lowest is $0.03. Luminex reported earnings per share of $0.25 in the same quarter last year, which would suggest a negative year over year growth rate of 68%. The firm is scheduled to issue its next earnings report on Monday, October 29th.
On average, analysts expect that Luminex will report full year earnings of $0.56 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.63. For the next year, analysts forecast that the firm will report earnings of $0.62 per share, with EPS estimates ranging from $0.41 to $0.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Luminex.
Luminex (NASDAQ:LMNX) last announced its earnings results on Monday, August 6th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $79.60 million for the quarter, compared to analysts’ expectations of $79.66 million. Luminex had a net margin of 10.57% and a return on equity of 7.44%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share.
Several analysts have recently issued reports on LMNX shares. Zacks Investment Research cut shares of Luminex from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. BidaskClub upgraded shares of Luminex from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. ValuEngine upgraded shares of Luminex from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 19th. Citigroup upped their target price on shares of Luminex from $23.00 to $34.00 and gave the company a “$33.58” rating in a research report on Monday, July 23rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $27.00 target price on shares of Luminex in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.60.
In other news, Director G Walter Loewenbaum II sold 3,203 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $30.91, for a total transaction of $99,004.73. Following the sale, the director now directly owns 531,948 shares in the company, valued at approximately $16,442,512.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Aperio Group LLC raised its position in Luminex by 4.8% in the 2nd quarter. Aperio Group LLC now owns 35,095 shares of the medical instruments supplier’s stock worth $1,036,000 after purchasing an additional 1,611 shares during the period. Martingale Asset Management L P raised its position in Luminex by 1.5% in the 2nd quarter. Martingale Asset Management L P now owns 138,915 shares of the medical instruments supplier’s stock worth $4,103,000 after purchasing an additional 2,000 shares during the period. Citigroup Inc. raised its position in Luminex by 12.2% in the 1st quarter. Citigroup Inc. now owns 18,527 shares of the medical instruments supplier’s stock worth $390,000 after purchasing an additional 2,019 shares during the period. Northern Trust Corp raised its position in Luminex by 0.3% in the 1st quarter. Northern Trust Corp now owns 955,107 shares of the medical instruments supplier’s stock worth $20,124,000 after purchasing an additional 3,154 shares during the period. Finally, Rhumbline Advisers raised its position in Luminex by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 106,965 shares of the medical instruments supplier’s stock worth $3,159,000 after purchasing an additional 3,514 shares during the period. 82.23% of the stock is currently owned by institutional investors.
Shares of NASDAQ LMNX traded up $0.26 during mid-day trading on Friday, hitting $28.34. 249,200 shares of the company’s stock traded hands, compared to its average volume of 321,390. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 3.24 and a beta of 0.24. Luminex has a 1 year low of $18.62 and a 1 year high of $35.37.
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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