CVS Health Corp. recently announced the acquisition of new stake in LumiraDx Limited (NASDAQ:LMDX). This fresh investment now brings its stake to 3.47% valued currently at $0.92 million. In addition, Beacon Investment Advisory Servic raised its holdings by 0.43 million to 1.04 million shares. And BDO Wealth Advisors LLC has lifted its position by 15.44% or 24900.0 shares – to 0.19 million shares.
With over 28.04 million LumiraDx Limited (LMDX) shares trading Friday and a closing price of $0.07 on the day, the dollar volume was approximately $1.96 million. The shares have shown a negative half year performance of -84.81% and its price on 12/22/23 lost nearly -6.91%. Currently, there are 361.79M common shares owned by the public and among those 49.45M shares have been available to trade.
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However, the script later moved the day high at 0.0848, down -6.91%. The company’s stock has a 5-day price change of -29.31% and -75.09% over the past three months. LMDX shares are trading -92.07% year to date (YTD), with the 12-month market performance down to -92.65% lower. It has a 12-month low price of $0.07 and touched a high of $1.33 over the same period. LMDX has an average intraday trading volume of 15.31 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -34.30%, -36.32%, and -81.19% respectively.
Institutional ownership of LumiraDx Limited (NASDAQ: LMDX) shares accounts for 9.91% of the company’s 361.79M shares outstanding. Mutual fund holders own 0.06%, while other institutional holders and individual stakeholders account for 23.19% and — respectively.
It has a market capitalization of $25.83M and a beta (3y monthly) value of 1.78. The earnings-per-share (ttm) stands at -$1.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.75% over the week and 26.55% over the month.
Analysts forecast that LumiraDx Limited (LMDX) will achieve an EPS of -$0.09 for the current quarter, -$0.09 for the next quarter and -$0.34 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.47 a year ago. Earnings per share for the fiscal year are expected to increase by 23.91%, and 19.05% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate LumiraDx Limited (LMDX) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LMDX, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on November 15, 2021, with the firm’s price target at $20.
