Equities analysts expect Luminex Co. (NASDAQ:LMNX) to post sales of $74.00 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Luminex’s earnings. The lowest sales estimate is $73.47 million and the highest is $74.70 million. Luminex posted sales of $74.14 million during the same quarter last year, which suggests a negative year over year growth rate of 0.2%. The firm is expected to report its next earnings results on Monday, October 29th.

According to Zacks, analysts expect that Luminex will report full-year sales of $313.89 million for the current year, with estimates ranging from $311.60 million to $315.25 million. For the next fiscal year, analysts forecast that the firm will post sales of $315.36 million per share, with estimates ranging from $310.96 million to $324.97 million. Zacks’ sales averages 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 Thomson Reuters’ consensus estimate of $0.19 by ($0.04). The company had revenue of $79.60 million for the quarter, compared to the consensus estimate of $79.66 million. Luminex had a return on equity of 7.44% and a net margin of 10.57%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share.

Several research analysts recently issued reports on LMNX shares. Citigroup raised their target price on Luminex from $23.00 to $34.00 and gave the stock a “$33.58” rating in a research report on Monday, July 23rd. Zacks Investment Research downgraded Luminex from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. ValuEngine downgraded Luminex from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. BidaskClub upgraded Luminex from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $27.00 price target on shares of Luminex in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.60.

NASDAQ:LMNX traded up $0.43 during trading hours on Friday, hitting $29.54. 11,153 shares of the company were exchanged, compared to its average volume of 319,950. The firm has a market cap of $1.26 billion, a P/E ratio of 32.03, a P/E/G ratio of 3.27 and a beta of 0.25. Luminex has a one year low of $18.62 and a one year high of $35.37.

In other Luminex news, Director G Walter Loewenbaum II sold 40,797 shares of the stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $31.03, for a total transaction of $1,265,930.91. Following the completion of the sale, the director now directly owns 491,151 shares in the company, valued at approximately $15,240,415.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new stake in shares of Luminex in the 2nd quarter valued at about $11,507,000. California Public Employees Retirement System grew its stake in shares of Luminex by 4.0% in the 2nd quarter. California Public Employees Retirement System now owns 93,724 shares of the medical instruments supplier’s stock valued at $2,768,000 after buying an additional 3,632 shares during the period. PEAK6 Investments L.P. acquired a new stake in shares of Luminex in the 2nd quarter valued at about $359,000. Cubist Systematic Strategies LLC grew its stake in shares of Luminex by 7,572.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,289 shares of the medical instruments supplier’s stock valued at $215,000 after buying an additional 7,194 shares during the period. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Luminex in the 2nd quarter valued at about $231,000. Institutional investors own 82.23% of the company’s stock.

About Luminex

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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