Today: Brokerages Set Luminex Corp. (LMNX) Target Price at $22.80

Today: Brokerages Set Luminex Corp. (LMNX) Target Price at $22.80

Shares of Luminex Corp. (NASDAQ:LMNX) have been given an average rating of “Hold” by the seven analysts that are presently covering the firm. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.80.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Luminex Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Jefferies Group increased their price objective on shares of Luminex Corp. from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Avondale Partners assumed coverage on shares of Luminex Corp. in a research report on Wednesday, October 12th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of Luminex Corp. from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $18.00 to $22.00 in a research report on Thursday, August 18th.

Several hedge funds have recently added to or reduced their stakes in LMNX. BNP Paribas Arbitrage SA boosted its position in shares of Luminex Corp. by 116.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,491 shares of the company’s stock valued at $253,000 after buying an additional 6,709 shares during the period. Magnetar Financial LLC purchased a new position in shares of Luminex Corp. during the first quarter valued at about $238,000. Renaissance Technologies LLC boosted its position in shares of Luminex Corp. by 19.1% in the first quarter. Renaissance Technologies LLC now owns 1,007,840 shares of the company’s stock valued at $19,552,000 after buying an additional 161,800 shares during the period. RGM Capital LLC boosted its position in shares of Luminex Corp. by 15.8% in the first quarter. RGM Capital LLC now owns 1,645,903 shares of the company’s stock valued at $31,931,000 after buying an additional 225,055 shares during the period. Finally, Hancock Holding Co. boosted its position in shares of Luminex Corp. by 0.9% in the first quarter. Hancock Holding Co. now owns 420,355 shares of the company’s stock valued at $8,155,000 after buying an additional 3,740 shares during the period. 79.85% of the stock is owned by institutional investors and hedge funds.

Luminex Corp. (NASDAQ:LMNX) opened at 22.16 on Friday. Luminex Corp. has a 52 week low of $17.29 and a 52 week high of $23.75. The firm has a market capitalization of $965.02 million, a PE ratio of 23.13 and a beta of 0.42. The firm has a 50-day moving average of $22.06 and a 200 day moving average of $20.99.

Luminex Corp. (NASDAQ:LMNX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.18. Luminex Corp. had a net margin of 16.60% and a return on equity of 13.65%. The company earned $64.20 million during the quarter, compared to the consensus estimate of $61.20 million. During the same quarter last year, the company earned $0.27 earnings per share. Luminex Corp.’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts predict that Luminex Corp. will post $0.63 earnings per share for the current year.

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