Investment Management of Virginia LLC lessened its position in Luminex Co. (NASDAQ:LMNX) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 945,125 shares of the medical instruments supplier’s stock after selling 8,170 shares during the quarter. Luminex makes up 4.8% of Investment Management of Virginia LLC’s investment portfolio, making the stock its largest holding. Investment Management of Virginia LLC owned approximately 2.10% of Luminex worth $19,516,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Luminex by 68.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,273 shares of the medical instruments supplier’s stock worth $171,000 after purchasing an additional 3,356 shares during the period. WINTON GROUP Ltd increased its holdings in Luminex by 42.6% during the 2nd quarter. WINTON GROUP Ltd now owns 13,314 shares of the medical instruments supplier’s stock worth $275,000 after purchasing an additional 3,976 shares during the period. State of Tennessee Treasury Department increased its holdings in Luminex by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 18,055 shares of the medical instruments supplier’s stock worth $373,000 after purchasing an additional 1,419 shares during the period. Pitcairn Co. increased its holdings in Luminex by 32.4% during the 2nd quarter. Pitcairn Co. now owns 18,337 shares of the medical instruments supplier’s stock worth $378,000 after purchasing an additional 4,483 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Luminex by 5.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 20,310 shares of the medical instruments supplier’s stock worth $419,000 after purchasing an additional 1,034 shares during the period. Hedge funds and other institutional investors own 79.59% of the company’s stock.
LMNX has been the topic of several recent research reports. BidaskClub downgraded Luminex from a “hold” rating to a “sell” rating in a report on Thursday. BTIG Research cut their price target on Luminex to $32.00 and set a “buy” rating on the stock in a report on Monday. ValuEngine downgraded Luminex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. downgraded Luminex from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $23.00 to $21.00 in a report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.33.
Shares of LMNX traded up $0.92 during mid-day trading on Monday, reaching $19.28. The company’s stock had a trading volume of 26,192 shares, compared to its average volume of 256,731. Luminex Co. has a 12-month low of $17.34 and a 12-month high of $30.16. The stock has a market cap of $815.80 million, a PE ratio of 40.17 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.52 and a quick ratio of 2.45. The company’s 50 day moving average is $20.41 and its 200 day moving average is $20.91.
Luminex (NASDAQ:LMNX) last released its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Luminex had a negative net margin of 2.93% and a negative return on equity of 2.38%. The business had revenue of $78.67 million during the quarter, compared to analysts’ expectations of $81.75 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Luminex Co. will post -0.26 EPS for the current fiscal year.
In other news, Director G Walter Loewenbaum II bought 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average cost of $17.88 per share, with a total value of $804,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nachum Shamir bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $19.71 per share, with a total value of $98,550.00. The disclosure for this purchase can be found here. Corporate insiders own 8.70% of the company’s stock.
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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