Institutional Exposure To Luminex Corporation (LMNX)


    BlackRock Fund Advisors has recently announced that it has increased stake in Luminex Corporation (NASDAQ:LMNX) by 1.33%. After grabbing 6.57 million shares, the institutional investor is now in possession of 86274.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 14.17% having worth around $239.16 million. Moreover, The Vanguard Group, Inc. increased its share by 0.2 million to have a control over 4.57 million shares. And Renaissance Technologies LLC raised its holdings to 36440.0 shares by acquiring 2.35 million shares or 5.07% of the stake.

    Luminex Corporation (LMNX) concluded trading on 08/27/20 at a closing price of $26.13, with 1.78 million shares of worth about $46.56 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -17.57% during that period and on Thursday the price saw a loss of about -11.81%. Currently the company’s common shares owned by public are about 44.89M shares, out of which, 44.07M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the LMNX stock and their offered price forecasts bring an average price target of $38.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $48.00 and could fall to a lowest price of $25.00. Analysts also issued an outlook of 2.60 for the Luminex Corporation stock for next 12 months. The stock’s current price level is 31.69% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.52 for the stock. However, touching the estimated high of $48.00 would mean a gain of 45.56% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 118 times over the past 12 months. They bought 1,116,946 shares in 55 of the transactions. In 63 selling transactions, insiders dumped 1,452,052 shares.

    iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Luminex Corporation iShares Core S&P Small Cap ETF is currently holding 2.66 million shares of worth totaling $96.75 million. The company recently came buying 16712.0 shares which brought its stake up to 5.81% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 23704.0 shares, after which its hold over company’s outstanding shares shrunk to 2.64%, leaving 1.22 million shares with the mutual fund that have a worth of about $44.57 million. Vanguard Small Cap Index Fund, after selling 1.08 million shares, have now control over 2.33% of the stake in the company. It holds 10940.0 shares of worth $39.29 million.

    Luminex Corporation (NASDAQ: LMNX) started trading at $27.52, below -$2.11 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $26.13, or with a loss of -11.81%. Stock saw a price change of -17.57% in past 5 days and over the past one month there was a price change of -27.40%. Year-to-date (YTD), LMNX shares are showing a performance of 12.82% which increased to 29.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $17.34 but also hit the highest price of $41.69 during that period. While comparing its average daily trading volume of 773.55K shares, we see that about 1.78 million changed hands on the day. The stock is currently trading -21.11% below its 20-day simple moving average (SMA20), while that difference is down -21.06% for SMA50 and it goes to -6.94% lower than SMA200.

    BlackRock Fund Advisors acquired 6.57 million shares of Luminex Corporation having value of about $239.16 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 86274.0 shares in the company valued at close to $2254339.62, or have control over 1.33% stake in the company. Luminex Corporation (NASDAQ: LMNX) currently have 44.89M outstanding shares and institutions hold larger chunk of about 98.40% of that. Holding of mutual funds in the company is about 44.05% while other institutional holders and individual stake holders have control over 53.19% and 11.89% of the stake respectively.

    The stock has a current market capitalization of $1.22B and its 3Y-monthly beta is at 0.73. PE ratio of stock for trailing 12 months is 290.33, while it has posted earnings per share of $0.09 in the same period. Its PEG reads 19.36 and has Quick Ratio of 5.80 while making debt-to-equity ratio of 0.39. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LMNX, volatility over the week remained 4.42% while standing at 5.34% over the month.

    Analysts are in expectations that Luminex Corporation (LMNX) stock would likely to be making an EPS of $0.2 in the current quarter, while forecast for next quarter ESPS is $0.31 and it is $0.74 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.16 which is $0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -190.70% while it is estimated to decrease by -8.57% in next year. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of -17.60% made by the stock over the past 5-years.

    Analysts at 5 brokerage firms have issued recommendations for the Luminex Corporation (LMNX)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 5 Wall Street analysts, 2 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on August 18, 2020 offering an Overweight rating for the stock and assigned a target price of $38 to it. Coverage by JP Morgan stated Luminex Corporation (LMNX) stock as an Underweight in their note to investors on September 27, 2019, suggesting a price target of $21 for the stock. On January 05, 2018, BTIG Research Initiated their recommendations, while on January 18, 2017, Deutsche Bank Initiated their ratings for the stock with a price target of $18. Stock get a Mkt outperform rating from Avondale on October 12, 2016.


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