Investment Management Of Virginia Lowers stake in Luminex Corporation (LMNX)

Luminex Corporation (LMNX) : Investment Management Of Virginia reduced its stake in Luminex Corporation by 6.08% during the most recent quarter end. The investment management company now holds a total of 894,423 shares of Luminex Corporation which is valued at $19,766,748 after selling 57,911 shares in Luminex Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Luminex Corporation makes up approximately 5.00% of Investment Management Of Virginia’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc sold out all of its stake in LMNX during the most recent quarter. The investment firm sold 26 shares of LMNX which is valued $575.Legal General Group Plc boosted its stake in LMNX in the latest quarter, The investment management firm added 27,056 additional shares and now holds a total of 37,413 shares of Luminex Corporation which is valued at $856,384.Cutler Group Lp reduced its stake in LMNX by selling 973 shares or 27.06% in the most recent quarter. The Hedge Fund company now holds 2,623 shares of LMNX which is valued at $61,588.

Luminex Corporation closed down -0.59 points or -2.51% at $22.89 with 1,43,366 shares getting traded on Tuesday. Post opening the session at $23.33, the shares hit an intraday low of $22.85 and an intraday high of $23.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Many Wall Street Analysts have commented on Luminex Corporation. Avondale Initiated Luminex Corporation on Oct 12, 2016 to “Mkt Outperform”, Price Target of the shares are set at $27.Luminex Corporation was Upgraded by JP Morgan to ” Neutral” on Aug 18, 2016.

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.

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