Luminex Corporation (LMNX) to Post Q4 2017 Earnings of $0.05 Per Share, Jefferies Group Forecasts

Luminex Corporation (NASDAQ:LMNX) – Research analysts at Jefferies Group dropped their Q4 2017 EPS estimates for shares of Luminex Corporation in a research report issued on Tuesday. Jefferies Group analyst B. Couillard now expects that the firm will earn $0.05 per share for the quarter, down from their previous forecast of $0.08. Jefferies Group has a “Hold” rating and a $20.00 price objective on the stock.

Luminex Corporation (NASDAQ:LMNX) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The business had revenue of $72.30 million for the quarter, compared to the consensus estimate of $70.92 million. Luminex Corporation had a return on equity of 5.53% and a net margin of 5.10%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS.

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A number of other equities research analysts also recently issued reports on LMNX. William Blair reaffirmed a “market perform” rating on shares of Luminex Corporation in a research report on Tuesday, February 7th. Piper Jaffray Companies reduced their price objective on shares of Luminex Corporation from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, February 7th. Deutsche Bank AG reaffirmed a “sell” rating and issued a $18.00 price objective on shares of Luminex Corporation in a research report on Wednesday, January 18th. Finally, Zacks Investment Research downgraded shares of Luminex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.71.

Shares of Luminex Corporation (NASDAQ:LMNX) traded up 1.22% during mid-day trading on Wednesday, reaching $18.26. The company had a trading volume of 103,303 shares. Luminex Corporation has a one year low of $17.57 and a one year high of $23.75. The firm has a market capitalization of $780.94 million, a price-to-earnings ratio of 57.06 and a beta of 0.59. The stock has a 50 day moving average of $19.81 and a 200-day moving average of $20.87.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System increased its position in Luminex Corporation by 5.1% in the second quarter. New York State Teachers Retirement System now owns 43,334 shares of the company’s stock worth $877,000 after buying an additional 2,100 shares in the last quarter. Bank of Montreal Can bought a new position in Luminex Corporation during the second quarter worth $1,973,000. Neuberger Berman Group LLC increased its position in Luminex Corporation by 2.4% in the second quarter. Neuberger Berman Group LLC now owns 531,825 shares of the company’s stock worth $10,759,000 after buying an additional 12,524 shares in the last quarter. Oxford Asset Management increased its position in Luminex Corporation by 116.0% in the second quarter. Oxford Asset Management now owns 276,434 shares of the company’s stock worth $5,592,000 after buying an additional 148,462 shares in the last quarter. Finally, Cowen Prime Services LLC increased its position in Luminex Corporation by 0.6% in the second quarter. Cowen Prime Services LLC now owns 254,345 shares of the company’s stock worth $5,145,000 after buying an additional 1,500 shares in the last quarter. 79.45% of the stock is owned by hedge funds and other institutional investors.

This story was first posted by Web Breaking News and is the sole property of of Web Breaking News. If you are viewing this story on another site, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this story can be read at http://www.webbreakingnews.com/2017/02/17/luminex-corporation-lmnx-to-post-q4-2017-earnings-of-0-05-per-share-jefferies-group-forecasts.html.

In other news, Director G Walter Loewenbaum II sold 50,000 shares of the stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $20.57, for a total transaction of $1,028,500.00. Following the completion of the transaction, the director now directly owns 749,414 shares of the company’s stock, valued at approximately $15,415,445.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 150,000 shares of company stock valued at $3,040,300 over the last three months. Insiders own 6.90% of the company’s stock.

About Luminex Corporation

Luminex Corporation develops, manufactures and sells biological testing technologies with applications throughout the diagnostics, pharmaceutical and life sciences industries. The Company has a range of instruments using its xMAP technology, including its LUMINEX 100/200 systems offer 100-plex testing; the Company’s FLEXMAP 3D system is its high-throughput, 500-plex testing system, and its MAGPIX system provides 50-plex testing using imaging rather than flow cytometry.

5 Day Chart for NASDAQ:LMNX

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