JP Morgan Upgrades Luminex Corporation to Neutral

Brokerage firm JP Morgan Upgrades its rating on Luminex Corporation(NASDAQ:LMNX). The shares have been rated Neutral. Previously, the analysts had a Underweight rating on the shares. The rating by JP Morgan was issued on Aug 18, 2016.

In a different note, On Jul 28, 2016, Jefferies said it Maintains its rating on Luminex Corporation. In the research note, the firm Raises the price-target to $21.00 per share. The shares have been rated ‘Hold’ by the firm.

Luminex Corporation (LMNX) shares turned negative on Mondays trading session with the shares closing down -0.12 points or -0.57% at a volume of 1,31,112. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $21.4. The peak price level was also seen at $21.4 while the days lowest was $21.04. Finally the shares closed at $21.08. The 52-week high of the shares is $23.75 while the 52-week low is $16.16. According to the latest information available, the market cap of the company is $918 M.

Luminex Corporation(LMNX) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $64.17M. Analysts had an estimated revenue of $61.20M. Earnings per share were $0.33. Analysts had estimated an EPS of $0.15.

Several Insider Transactions has been reported to the SEC. On Jan 6, 2016, G Walter Ii Loewenbaum (director) sold 41,056 shares at $20.53 per share price.Also, 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.

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