JP Morgan slashes price target on Luminex Corporation [LMNX] – find out why.

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Luminex Corporation [NASDAQ: LMNX] surged by $2.5 during the normal trading session on Monday and reaching a high of $38.93 during the day while it closed the day at $38.90. The company report on July 22, 2020 that Luminex Files for Emergency Use Authorization for Expanded NxTAG Respiratory Panel Test Including SARS-CoV-2.

Syndromic testing will streamline respiratory infection diagnosis as COVID-19 pandemic collides with start of flu season.

Luminex Corporation (NASDAQ: LMNX) today announced that it has submitted an EUA request to the FDA for a new expanded version of its NxTAG® Respiratory Pathogen Panel (RPP) to include the SARS-CoV-2 virus for high-throughput COVID-19 testing. The new test is a combination of the company’s original NxTAG RPP, an FDA-cleared in vitro diagnostic for syndromic respiratory infection testing, and the most relevant circulating pathogen today, SARS-CoV-2.

Luminex Corporation stock has also gained 4.63% of its value over the past 7 days. However, LMNX stock has inclined by 8.42% in the 3 months of the year. Over the past six months meanwhile, it has gained 67.17% and gained 67.96% year-on date.

The market cap for LMNX stock reached $1.79 billion, with 44.40 million shares outstanding and 43.15 million shares in the current float. Compared to the average trading volume of 802.28K shares, LMNX reached a trading volume of 1429221 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Luminex Corporation [LMNX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LMNX shares is $33.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LMNX stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Luminex Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 27, 2019. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on January 05, 2018, representing the official price target for Luminex Corporation stock. Previously, the target price had yet another raise to $18, while Deutsche Bank analysts kept a Sell rating on LMNX stock.

The Average True Range (ATR) for Luminex Corporation is set at 1.69, with the Price to Sales ratio for LMNX stock in the period of the last 12 months amounting to 5.21. The Price to Book ratio for the last quarter was 3.73, with the Price to Cash per share for the same quarter was set at 0.94.

LMNX stock trade performance evaluation

Luminex Corporation [LMNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.63. With this latest performance, LMNX shares gained by 18.45% in over the last four-week period, additionally plugging by 67.17% over the last 6 months – not to mention a rise of 79.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LMNX stock in for the last two-week period is set at 66.37, with the RSI for the last a single of trading hit 69.05, and the three-weeks RSI is set at 64.09 for Luminex Corporation [LMNX]. The present Moving Average for the last 50 days of trading for this stock 32.48, while it was recorded at 36.78 for the last single week of trading, and 27.02 for the last 200 days.

Luminex Corporation [LMNX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Luminex Corporation [LMNX] shares currently have an operating margin of -3.61 and a Gross Margin at +51.20. Luminex Corporation’s Net Margin is presently recorded at -1.13.

Return on Total Capital for LMNX is now -2.53, given the latest momentum, and Return on Invested Capital for the company is -0.79. Return on Equity for this stock declined to -0.81, with Return on Assets sitting at -0.68. When it comes to the capital structure of this company, Luminex Corporation [LMNX] has a Total Debt to Total Equity ratio set at 4.78. Additionally, LMNX Total Debt to Total Capital is recorded at 4.56, with Total Debt to Total Assets ending up at 3.91. Long-Term Debt to Equity for the company is recorded at 3.70, with the Long-Term Debt to Total Capital now at 3.53.

Reflecting on the efficiency of the workforce at the company, Luminex Corporation [LMNX] managed to generate an average of -$3,002 per employee. Receivables Turnover for the company is 6.13 with a Total Asset Turnover recorded at a value of 0.60.Luminex Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 4.00.

Earnings per share (EPS) analysis for Luminex Corporation [LMNX] stock

With the latest financial reports released by the company, Luminex Corporation posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -900.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LMNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Luminex Corporation go to 15.00%.

Luminex Corporation [LMNX]: Insider Ownership positions

There are presently around $1,514 million, or 87.10% of LMNX stock, in the hands of institutional investors. The top three institutional holders of LMNX stocks are: BLACKROCK INC. with ownership of 7,260,838, which is approximately 1.27% of the company’s market cap and around 3.90% of the total institutional ownership; VANGUARD GROUP INC, holding 4,452,935 shares of the stock with an approximate value of $173.22 million in LMNX stocks shares; and RGM CAPITAL, LLC, currently with $131.33 million in LMNX stock with ownership of nearly -4.712% of the company’s market capitalization.

Positions in Luminex Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 101 institutional holders increased their position in Luminex Corporation [NASDAQ:LMNX] by around 5,601,711 shares. Additionally, 74 investors decreased positions by around 3,527,444 shares, while 30 investors held positions by with 29,784,816 shares. The mentioned changes placed institutional holdings at 38,913,971 shares, according to the latest SEC report filing. LMNX stock had 35 new institutional investments in for a total of 2,453,309 shares, while 21 institutional investors sold positions of 487,897 shares during the same period.

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