BlackRock Inc. Increases Holdings in Luminex Co. (NASDAQ:LMNX)

BlackRock Inc. raised its stake in shares of Luminex Co. (NASDAQ:LMNX) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,296,181 shares of the medical instruments supplier’s stock after buying an additional 132,397 shares during the period. BlackRock Inc. owned about 17.54% of Luminex worth $264,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fieldpoint Private Securities LLC raised its stake in Luminex by 39.0% during the 1st quarter. Fieldpoint Private Securities LLC now owns 1,565 shares of the medical instruments supplier’s stock valued at $50,000 after buying an additional 439 shares during the last quarter. Veriti Management LLC purchased a new stake in Luminex during the 4th quarter valued at $139,000. CHICAGO TRUST Co NA purchased a new stake in Luminex during the 1st quarter valued at $201,000. Commonwealth Equity Services LLC purchased a new stake in shares of Luminex in the 1st quarter worth $229,000. Finally, Personal CFO Solutions LLC purchased a new stake in shares of Luminex in the 1st quarter worth $245,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

LMNX has been the subject of several analyst reports. BTIG Research restated a “neutral” rating on shares of Luminex in a research note on Monday, April 19th. JPMorgan Chase & Co. upgraded Luminex from an “underweight” rating to a “neutral” rating in a research note on Monday, April 12th. Finally, Piper Sandler restated a “neutral” rating and issued a $37.00 price objective (down from $38.00) on shares of Luminex in a research note on Monday, April 19th. Four equities research analysts have rated the stock with a hold rating, Luminex presently has an average rating of “Hold” and a consensus target price of $31.50.

Shares of Luminex stock opened at $36.90 on Friday. The company has a market cap of $1.75 billion, a P/E ratio of 72.35 and a beta of 0.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 8.37 and a quick ratio of 6.08. The business has a fifty day moving average price of $36.24. Luminex Co. has a fifty-two week low of $20.61 and a fifty-two week high of $41.69.

Luminex (NASDAQ:LMNX) last issued its earnings results on Wednesday, May 5th. The medical instruments supplier reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. Luminex had a net margin of 5.39% and a return on equity of 4.66%. The company had revenue of $110.69 million during the quarter, compared to the consensus estimate of $110.11 million. As a group, analysts anticipate that Luminex Co. will post 0.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 8th. Shareholders of record on Thursday, June 17th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, June 16th. Luminex’s dividend payout ratio (DPR) is presently 125.00%.

About Luminex

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; MicroPlex, MagPlex, xTAG, SeroMAP, and calibration and control microspheres; xPONENT, a software suite to simplify laboratory workflow and enhance productivity; and TDAS, an analysis program designed for development and optimization of nucleic acid assays.

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Institutional Ownership by Quarter for Luminex (NASDAQ:LMNX)

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