Luminex Corporation (NASDAQ:LMNX) Expected to Announce Quarterly Sales of $75.18 Million
Analysts expect Luminex Corporation (NASDAQ:LMNX) to report $75.18 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Luminex Corporation’s earnings, with the lowest sales estimate coming in at $75.10 million and the highest estimate coming in at $75.26 million. Luminex Corporation reported sales of $64.17 million during the same quarter last year, which indicates a positive year over year growth rate of 17.2%. The firm is expected to issue its next earnings results after the market closes on Monday, August 7th.
According to Zacks, analysts expect that Luminex Corporation will report full year sales of $75.18 million for the current fiscal year, with estimates ranging from $305.00 million to $309.56 million. For the next fiscal year, analysts forecast that the company will post sales of $315.96 million per share, with estimates ranging from $298.79 million to $330.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Luminex Corporation.
A number of research firms have recently weighed in on LMNX. BidaskClub downgraded shares of Luminex Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Jefferies Group LLC reissued a “hold” rating and set a $21.00 price objective on shares of Luminex Corporation in a research report on Friday, June 9th. Zacks Investment Research raised shares of Luminex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Monday, July 17th. ValuEngine raised shares of Luminex Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Finally, TheStreet raised shares of Luminex Corporation from a “c+” rating to a “b-” rating in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.67.
In other news, Director G Walter Loewenbaum II sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $20.23, for a total transaction of $505,750.00. Following the sale, the director now owns 738,896 shares of the company’s stock, valued at approximately $14,947,866.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 75,000 shares of company stock worth $1,527,500. Insiders own 6.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in LMNX. Sei Investments Co. increased its stake in shares of Luminex Corporation by 10.9% in the first quarter. Sei Investments Co. now owns 5,946 shares of the medical instruments supplier’s stock worth $110,000 after buying an additional 582 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Luminex Corporation by 6.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,780 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 489 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Luminex Corporation by 0.5% in the first quarter. Mason Street Advisors LLC now owns 8,713 shares of the medical instruments supplier’s stock worth $160,000 after buying an additional 46 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Luminex Corporation by 92.1% in the second quarter. State of Alaska Department of Revenue now owns 7,895 shares of the medical instruments supplier’s stock worth $166,000 after buying an additional 3,785 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Luminex Corporation by 5.4% in the first quarter. Creative Planning now owns 9,256 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 474 shares during the last quarter. 74.15% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Luminex Corporation (NASDAQ LMNX) traded down 0.74% on Friday, reaching $20.05. The company’s stock had a trading volume of 156,297 shares. The stock has a 50-day moving average price of $20.77 and a 200-day moving average price of $19.64. The company has a market capitalization of $880.72 million, a price-to-earnings ratio of 62.27 and a beta of 0.29. Luminex Corporation has a 1-year low of $17.64 and a 1-year high of $23.62.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 23rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Wednesday, June 21st. Luminex Corporation’s payout ratio is presently 75.00%.
About Luminex Corporation
Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company’s products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments.
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