Luminex Corp. (LMNX) Sees Large Volume Increase
Shares of Luminex Corp. (NASDAQ:LMNX) saw strong trading volume on Thursday . 246,321 shares traded hands during mid-day trading, an increase of 2% from the previous session’s volume of 241,799 shares.The stock last traded at $21.57 and had previously closed at $21.47.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered Luminex Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Jefferies Group increased their price target on Luminex Corp. from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Piper Jaffray Cos. reissued a “hold” rating and set a $20.00 price target (up from $19.00) on shares of Luminex Corp. in a research note on Tuesday, May 3rd. Leerink Swann reissued a “hold” rating and set a $22.00 price target on shares of Luminex Corp. in a research note on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. raised Luminex Corp. from an “underweight” rating to a “neutral” rating and increased their price target for the company from $18.00 to $22.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $22.20.
The stock’s 50 day moving average price is $21.71 and its 200 day moving average price is $20.10. The company has a market cap of $943.69 million and a price-to-earnings ratio of 22.62.
Luminex Corp. (NASDAQ:LMNX) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.18. The company had revenue of $64.20 million for the quarter, compared to analysts’ expectations of $61.20 million. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. Analysts predict that Luminex Corp. will post $0.63 EPS for the current year.
A hedge fund recently raised its stake in Luminex Corp. stock. Rhumbline Advisers increased its position in shares of Luminex Corp. (NASDAQ:LMNX) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,917 shares of the company’s stock after buying an additional 3,100 shares during the period. Rhumbline Advisers owned 0.16% of Luminex Corp. worth $1,496,000 as of its most recent filing with the SEC.
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company has a range of instruments using its xMAP technology, including its LUMINEX 100/200 systems offer 100-plex testing; the Company’s FLEXMAP 3D system is its high-throughput, 500-plex testing system, and its MAGPIX system provides 50-plex testing using imaging rather than flow cytometry.
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