JPMorgan Chase & Co. cut its holdings in Luminex Co. (NASDAQ:LMNX) by 46.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,983 shares of the medical instruments supplier’s stock after selling 24,075 shares during the quarter. JPMorgan Chase & Co. owned about 0.06% of Luminex worth $566,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Luminex by 3.3% in the third quarter. Legal & General Group Plc now owns 78,767 shares of the medical instruments supplier’s stock worth $1,602,000 after purchasing an additional 2,523 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Luminex by 15.2% in the third quarter. Ameriprise Financial Inc. now owns 298,340 shares of the medical instruments supplier’s stock worth $6,065,000 after purchasing an additional 39,283 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Luminex by 21.9% in the third quarter. Russell Investments Group Ltd. now owns 69,501 shares of the medical instruments supplier’s stock worth $1,413,000 after purchasing an additional 12,485 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Luminex by 63.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,430 shares of the medical instruments supplier’s stock worth $314,000 after purchasing an additional 6,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Luminex by 69.3% in the third quarter. BNP Paribas Arbitrage SA now owns 21,493 shares of the medical instruments supplier’s stock worth $437,000 after purchasing an additional 8,797 shares during the last quarter. Institutional investors own 79.16% of the company’s stock.
LMNX has been the subject of several research analyst reports. Jefferies Group restated a “hold” rating and issued a $21.00 price objective on shares of Luminex in a research note on Friday, October 20th. TheStreet upgraded Luminex from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st. BidaskClub cut Luminex from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Finally, BTIG Research initiated coverage on Luminex in a research note on Friday, January 5th. They issued a “buy” rating and a $24.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $20.80.
Luminex Co. (LMNX) opened at $20.56 on Wednesday. The stock has a market capitalization of $912.81, a PE ratio of 31.15, a PEG ratio of 1.98 and a beta of 0.19. Luminex Co. has a 12 month low of $17.68 and a 12 month high of $22.42.
Luminex (NASDAQ:LMNX) last posted its earnings results on Monday, October 30th. The medical instruments supplier reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. The firm had revenue of $74.14 million for the quarter, compared to analyst estimates of $74.38 million. Luminex had a return on equity of 6.01% and a net margin of 9.52%. Luminex’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. analysts forecast that Luminex Co. will post 0.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 22nd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, December 21st. Luminex’s dividend payout ratio (DPR) is 36.36%.
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Luminex Company Profile
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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