Wedge Capital Management L L P NC trimmed its stake in Luminex Co. (NASDAQ:LMNX) by 15.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,288 shares of the medical instruments supplier’s stock after selling 3,806 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Luminex were worth $467,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund increased its holdings in shares of Luminex by 4.0% in the 1st quarter. Texas Permanent School Fund now owns 28,210 shares of the medical instruments supplier’s stock valued at $649,000 after acquiring an additional 1,079 shares during the period. Comerica Bank boosted its position in shares of Luminex by 2.5% in the 1st quarter. Comerica Bank now owns 41,138 shares of the medical instruments supplier’s stock worth $998,000 after purchasing an additional 992 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Luminex by 0.6% in the 1st quarter. Rhumbline Advisers now owns 128,066 shares of the medical instruments supplier’s stock worth $2,947,000 after purchasing an additional 822 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Luminex by 99.5% in the 1st quarter. SG Americas Securities LLC now owns 26,111 shares of the medical instruments supplier’s stock worth $601,000 after purchasing an additional 13,024 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Luminex by 985.0% in the 1st quarter. Bank of Montreal Can now owns 84,513 shares of the medical instruments supplier’s stock worth $1,944,000 after purchasing an additional 76,724 shares in the last quarter. 85.74% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the company. William Blair reissued a “market perform” rating on shares of Luminex in a research report on Tuesday, May 7th. BidaskClub raised Luminex from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Zacks Investment Research cut Luminex from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Finally, ValuEngine cut Luminex from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.33.
LMNX traded up $0.03 on Thursday, reaching $21.51. 4,219 shares of the stock were exchanged, compared to its average volume of 317,066. Luminex Co. has a fifty-two week low of $20.40 and a fifty-two week high of $35.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.70 and a current ratio of 3.99. The stock has a market cap of $964.76 million, a P/E ratio of 44.81, a P/E/G ratio of 19.86 and a beta of 0.75.
Luminex (NASDAQ:LMNX) last issued its quarterly earnings results on Monday, May 6th. The medical instruments supplier reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.14). The firm had revenue of $82.41 million for the quarter, compared to analyst estimates of $83.10 million. Luminex had a return on equity of 1.62% and a net margin of 2.55%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. Analysts predict that Luminex Co. will post 0.07 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This news story was published by Zolmax and is owned by of Zolmax. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at https://zolmax.com/investing/wedge-capital-management-l-l-p-nc-has-467000-holdings-in-luminex-co-lmnx/3085901.html.
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.
Featured Story: How to identify percentage decliners
Want to see what other hedge funds are holding LMNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Luminex Co. (NASDAQ:LMNX).
Receive News & Ratings for Luminex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Luminex and related companies with MarketBeat.com's FREE daily email newsletter.