Wednesday, March 3, 2021

For Luminex Corporation [LMNX], Analyst sees a rise to $38. What next?

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Luminex Corporation [NASDAQ: LMNX] closed the trading session at $27.88 on 02/19/21. The day’s price range saw the stock hit a low of $27.275, while the highest price level was $29.87. The company report on February 19, 2021 that Luminex Receives BARDA Funding to Support Development and Validation of Test Combining SARS-CoV-2 and Flu/RSV Respiratory Panel.

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Luminex Corporation (NASDAQ: LMNX) announced that it has received $11.3 million in funding from the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services. These funds will support the rapid development and validation of a respiratory panel combining Flu A/B & respiratory syncytial virus (RSV) targets with the SARS-CoV-2 target that can be run on all ARIES® Systems. These 6- and 12-cassette systems are automated molecular diagnostic platforms used in moderate- and high-complexity labs with a number of FDA cleared tests already available for use on them. The systems produce results in less than two hours with minimal hands-on time required.

The stocks have a year to date performance of 20.57 percent and weekly performance of 0.67 percent. The stock has been moved at -12.67 percent over the last six months. The stock has performed -2.43 percent around the most recent 30 days and changed 25.22 percent over the most recent 3-months.

If compared to the average trading volume of 501.93K shares, LMNX reached to a volume of 1837835 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 $33.50 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 2.60. 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.

Piper Sandler have made an estimate for Luminex Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 18, 2020. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $23 to $21. The new note on the price target was released on September 27, 2019, representing the official price target for Luminex Corporation stock. Previously, the target price had yet another raise to $24, while BTIG Research analysts kept a Buy rating on LMNX stock.

The Average True Range (ATR) for Luminex Corporation is set at 1.30, with the Price to Sales ratio for LMNX stock in the period of the last 12 months amounting to 3.61. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 6.25.

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 0.67. With this latest performance, LMNX shares dropped by -2.43% in over the last four-week period, additionally sinking by -12.67% over the last 6 months – not to mention a rise of 17.37% 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 49.38, with the RSI for the last a single of trading hit 44.81, and the three-weeks RSI is set at 51.98 for Luminex Corporation [LMNX]. The present Moving Average for the last 50 days of trading for this stock 26.50, while it was recorded at 28.93 for the last single week of trading, and 27.96 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 +10.17 and a Gross Margin at +56.62. Luminex Corporation’s Net Margin is presently recorded at +3.56.

Return on Total Capital for LMNX is now 6.95, given the latest momentum, and Return on Invested Capital for the company is 2.45. Return on Equity for this stock inclined to 3.03, with Return on Assets sitting at 2.13. When it comes to the capital structure of this company, Luminex Corporation [LMNX] has a Total Debt to Total Equity ratio set at 41.82. Additionally, LMNX Total Debt to Total Capital is recorded at 29.49, with Total Debt to Total Assets ending up at 26.23. Long-Term Debt to Equity for the company is recorded at 41.82, with the Long-Term Debt to Total Capital now at 29.49.

Receivables Turnover for the company is 6.80 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 5.00 and a Current Ratio set at 6.40.

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

With the latest financial reports released by the company, Luminex Corporation posted 0.01/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 surpassed the estimates by a Surprise Factor of 200.00%. 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 $1,126 million, or 94.60% of LMNX stock, in the hands of institutional investors. The top three institutional holders of LMNX stocks are: BLACKROCK INC. with ownership of 8,163,784, which is approximately 5.856% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 5,228,690 shares of the stock with an approximate value of $145.75 million in LMNX stocks shares; and RGM CAPITAL, LLC, currently with $75.35 million in LMNX stock with ownership of nearly 7.434% of the company’s market capitalization.

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Positions in Luminex Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 110 institutional holders increased their position in Luminex Corporation [NASDAQ:LMNX] by around 3,729,450 shares. Additionally, 108 investors decreased positions by around 6,270,950 shares, while 26 investors held positions by with 30,386,184 shares. The mentioned changes placed institutional holdings at 40,386,584 shares, according to the latest SEC report filing. LMNX stock had 32 new institutional investments in for a total of 1,204,208 shares, while 42 institutional investors sold positions of 2,907,775 shares during the same period.

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