Shares of Luminex Co. (NASDAQ:LMNX) were up 7.7% on Wednesday . The stock traded as high as $22.30 and last traded at $22.29, approximately 92,690 shares were traded during mid-day trading. A decline of 66% from the average daily volume of 273,227 shares. The stock had previously closed at $20.70.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Luminex from a “strong sell” rating to a “hold” rating and set a $17.00 price target for the company in a research note on Tuesday, July 9th. BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, ValuEngine raised Luminex from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.00.

The company has a market cap of $937.94 million, a price-to-earnings ratio of 46.44 and a beta of 0.78. The company’s 50 day moving average price is $20.71 and its 200 day moving average price is $21.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.45 and a current ratio of 3.74.

Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The business had revenue of $83.06 million during the quarter, compared to analyst estimates of $81.61 million. Luminex had a negative net margin of 0.80% and a negative return on equity of 0.78%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities research analysts forecast that Luminex Co. will post -0.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.09 per share. This is a positive change from Luminex’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, September 25th. Luminex’s dividend payout ratio (DPR) is 50.00%.

In related news, CEO Nachum Shamir purchased 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $19.71 per share, for a total transaction of $98,550.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.70% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in LMNX. Nuveen Asset Management LLC bought a new stake in shares of Luminex during the 2nd quarter worth $10,618,000. RGM Capital LLC raised its holdings in Luminex by 19.8% in the 2nd quarter. RGM Capital LLC now owns 3,060,317 shares of the medical instruments supplier’s stock worth $63,165,000 after acquiring an additional 505,040 shares during the period. Elk Creek Partners LLC acquired a new position in Luminex during the 1st quarter worth $7,105,000. BlackRock Inc. lifted its position in Luminex by 4.2% during the 2nd quarter. BlackRock Inc. now owns 6,783,282 shares of the medical instruments supplier’s stock worth $140,006,000 after acquiring an additional 271,981 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in Luminex during the first quarter valued at about $6,162,000. 79.78% of the stock is currently owned by institutional investors.

About Luminex (NASDAQ:LMNX)

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, a semi-automated, multiplex, molecular analysis system for the clinical diagnostics market.

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