Brokerages Set Luminex Co. (LMNX) Target Price at $20.00
Shares of Luminex Co. (NASDAQ:LMNX) have received a consensus recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.80.
A number of analysts recently issued reports on LMNX shares. TheStreet raised Luminex from a “c+” rating to a “b-” rating in a research report on Wednesday, November 1st. BTIG Research started coverage on Luminex in a research report on Friday. They issued a “buy” rating and a $24.00 target price on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $21.00 target price on shares of Luminex in a research report on Friday, October 20th. Finally, BidaskClub downgraded Luminex from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th.
Shares of Luminex (NASDAQ:LMNX) traded up $0.38 during trading on Monday, hitting $20.50. The stock had a trading volume of 331,494 shares, compared to its average volume of 205,995. The company has a market capitalization of $920.17, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 1.92 and a beta of 0.19. Luminex has a 12 month low of $17.68 and a 12 month high of $22.42.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 22nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 21st. Luminex’s dividend payout ratio is currently 35.82%.
In related news, Director G Walter Loewenbaum II sold 10,503 shares of Luminex stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $20.61, for a total value of $216,466.83. Following the sale, the director now owns 564,217 shares of the company’s stock, valued at $11,628,512.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 131,698 shares of company stock worth $2,761,201. 6.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. increased its position in Luminex by 8.3% during the second quarter. Pinebridge Investments L.P. now owns 5,266 shares of the medical instruments supplier’s stock worth $111,000 after buying an additional 405 shares during the last quarter. Sei Investments Co. increased its position in Luminex by 38.7% during the second quarter. Sei Investments Co. now owns 8,245 shares of the medical instruments supplier’s stock worth $174,000 after buying an additional 2,299 shares during the last quarter. First Quadrant L P CA acquired a new position in Luminex during the third quarter worth approximately $173,000. SG Americas Securities LLC increased its position in Luminex by 37.4% during the second quarter. SG Americas Securities LLC now owns 9,726 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 2,649 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Luminex during the third quarter worth approximately $254,000. 79.16% of the stock is currently owned by hedge funds and other institutional investors.
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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