Grandeur Peak Global Advisors LLC Makes New Investment in Luminex Co. (NASDAQ:LMNX)

Grandeur Peak Global Advisors LLC acquired a new position in shares of Luminex Co. (NASDAQ:LMNX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 30,686 shares of the medical instruments supplier’s stock, valued at approximately $979,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd raised its holdings in Luminex by 83.1% during the first quarter. Point72 Hong Kong Ltd now owns 1,509 shares of the medical instruments supplier’s stock worth $48,000 after buying an additional 685 shares during the last quarter. Fieldpoint Private Securities LLC raised its holdings in Luminex by 39.0% during the first quarter. Fieldpoint Private Securities LLC now owns 1,565 shares of the medical instruments supplier’s stock worth $50,000 after buying an additional 439 shares during the last quarter. Mint Tower Capital Management B.V. acquired a new position in Luminex during the first quarter worth $112,000. Mutual of America Capital Management LLC raised its holdings in Luminex by 7.4% during the first quarter. Mutual of America Capital Management LLC now owns 5,798 shares of the medical instruments supplier’s stock worth $185,000 after buying an additional 399 shares during the last quarter. Finally, CHICAGO TRUST Co NA purchased a new stake in shares of Luminex in the first quarter valued at about $201,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.

LMNX remained flat at $$36.99 during trading on Thursday. The firm has a market cap of $1.75 billion, a P/E ratio of 72.53 and a beta of 0.56. The firm has a 50 day moving average of $36.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 6.08 and a current ratio of 8.37. Luminex Co. has a 1 year low of $20.61 and a 1 year high of $41.69.

Luminex (NASDAQ:LMNX) last posted its quarterly earnings results on Wednesday, May 5th. The medical instruments supplier reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The company had revenue of $110.69 million during the quarter, compared to analyst estimates of $110.11 million. Luminex had a net margin of 5.39% and a return on equity of 4.66%. Equities research analysts predict that Luminex Co. will post 0.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 8th. Investors of record on Thursday, June 17th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, June 16th. This represents a $0.40 annualized dividend and a yield of 1.08%. Luminex’s payout ratio is currently 125.00%.

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

Luminex Company Profile

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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