Revenue Update on Luminex Corporation(NASDAQ:LMNX)

Luminex Corporation(NASDAQ:LMNX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 6, 2017. Company reported revenue of $72.271M. Analysts estimated a revenue of $70.920M. The revenues were 1.9% above the estimates. Earnings per share were $0.11. The reported EPS was above estimates by 22.22%. Analysts had estimated an EPS of $0.09.

In a different note, Deutsche Bank said it Initiates Coverage On Luminex Corporation, according to a research note issued on Jan 18, 2017. In the research note, the firm Announces the price-target to $18 per share. The shares have been rated ‘Sell’ by the firm. Deutsche Bank said it Initiates Coverage On Luminex Corporation, according to a research note issued on Jan 17, 2017. In the research note, the firm Announces the price-target to $18 per share. The shares have been rated ‘Sell’ by the firm.

Luminex Corporation (LMNX) shares turned negative on Tuesdays trading session with the shares closing down -1.37 points or -6.86% at a volume of 7,99,156. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.835. The peak price level was also seen at $18.835 while the days lowest was $18. Finally the shares closed at $18.6. The 52-week high of the shares is $23.75 while the 52-week low is $17.29. According to the latest information available, the market cap of the company is $811 M.

Several Insider Transactions has been reported to the SEC. On Jan 30, 2017, G Walter Ii Loewenbaum (director) sold 20,000 shares at $19.75 per share price.Also, On Nov 16, 2016, Kevin M Mcnamara (director) sold 12,000 shares at $21.03 per share price.On Nov 7, 2016, Harriss T Currie (CFO) purchased 4,100 shares at $18.20 per share price, according to the Form-4 filing with the securities and exchange commission.

Luminex Corporation is a developer manufacturer and marketer of biological testing technologies with applications throughout the clinical diagnostic and life science industries. The Company’s xMAP (Multi-Analyte Profiling) technology is being used within fields of drug discovery and development and for clinical diagnostics genetic analysis bio-defense food safety and biomedical research. In addition to its xMAP technology the Company has its MultiCode technology used for real-time polymerase chain reaction (PCR) and multiplexed PCR assays. The instruments in the Company’s xMAP line include LX200 system which offers 100-plex testing; FLEXMAP 3D system which is a 500-plex testing system; and MAGPIX system which provides 50-plex testing at a lower cost using imaging rather than flow cytometry. The Company’s products include Instruments Consumables Software and Assay Product Families.

Share this post

Leave a Reply