Luminex Corporation (LMNX) is Upgraded by JP Morgan to Neutral

Luminex Corporation (LMNX) was Upgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Underweight ” on the company shares. JP Morgan advised their investors in a research report released on Aug 18, 2016.

On the company’s financial health, Luminex Corporation reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.18. The company had revenue of $64.17 million for the quarter, compared to analysts expectations of $61.00 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Luminex Corporation closed down -0.16 points or -0.74% at $21.47 with 1,58,277 shares getting traded on Wednesday. Post opening the session at $21.65, the shares hit an intraday low of $21.45 and an intraday high of $21.82 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jan 6, 2016, G Walter Ii Loewenbaum (director) sold 41,056 shares at $20.53 per share price. According to the SEC, on Dec 18, 2015, Russell W Bradley (SVP, Corp Dev & CMO) sold 6,514 shares at $22.75 per share price. On May 29, 2015, Nachum Shamir (CEO) purchased 6,000 shares at $16.73 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.

Luminex Corporation

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