Alambic Investment Management L.P. lessened its stake in shares of Luminex Co. (NASDAQ:LMNX) by 57.9% in the second quarter, Holdings Channel reports. The institutional investor owned 102,061 shares of the medical instruments supplier’s stock after selling 140,077 shares during the quarter. Luminex makes up about 0.8% of Alambic Investment Management L.P.’s portfolio, making the stock its 21st largest position. Alambic Investment Management L.P.’s holdings in Luminex were worth $3,014,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in Luminex during the second quarter worth about $207,000. Crossmark Global Holdings Inc. purchased a new stake in Luminex during the second quarter worth about $214,000. OppenheimerFunds Inc. purchased a new stake in Luminex during the second quarter worth about $231,000. Meeder Asset Management Inc. increased its holdings in Luminex by 1,278.2% during the second quarter. Meeder Asset Management Inc. now owns 8,076 shares of the medical instruments supplier’s stock worth $238,000 after buying an additional 7,490 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Luminex during the second quarter worth about $251,000. Institutional investors and hedge funds own 82.23% of the company’s stock.
LMNX opened at $28.08 on Friday. The stock has a market capitalization of $1.26 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.25 and a beta of 0.24. Luminex Co. has a twelve month low of $18.62 and a twelve month high of $35.37.
Luminex (NASDAQ:LMNX) last posted its 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 analysts’ expectations of $79.66 million. Luminex had a return on equity of 7.44% and a net margin of 10.57%. Luminex’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. equities research analysts expect that Luminex Co. will post 0.58 EPS for the current fiscal year.
In other news, Director G Walter Loewenbaum II sold 40,797 shares of Luminex 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 owns 491,151 shares in the company, valued at $15,240,415.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by company insiders.
LMNX has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Luminex from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. BidaskClub upgraded shares of Luminex from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. ValuEngine upgraded shares of Luminex from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Citigroup lifted their target price on shares of Luminex from $23.00 to $34.00 and gave the stock a “$33.58” rating in a research note on Monday, July 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $27.00 target price on shares of Luminex in a research note 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. The company currently has an average rating of “Hold” and a consensus target price of $28.60.
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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