Luminex Co. (NASDAQ:LMNX) shares were up 5.5% during trading on Tuesday after the company announced better than expected quarterly earnings, AnalystRatings.NET reports. The company traded as high as $20.99 and last traded at $19.91, with a volume of 376,702 shares. The stock had previously closed at $18.87.

The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.15 by $0.41. The firm had revenue of $60.40 million for the quarter, compared to analyst estimates of $60.16 million.

A number of research firms have recently issued reports on LMNX. Zacks Investment Research raised Luminex from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, October 14th. William Blair reissued a “market perform” rating on shares of Luminex in a report on Monday, October 12th. Finally, Piper Jaffray reissued a “hold” rating and issued a $19.00 target price (up previously from $17.00) on shares of Luminex in a report on Tuesday, November 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $20.00.

In other Luminex news, CMO Russell W. Bradley sold 6,514 shares of the business’s stock in a transaction on Wednesday, December 16th. The stock was sold at an average price of $22.75, for a total transaction of $148,193.50. Following the sale, the chief marketing officer now directly owns 104,067 shares in the company, valued at $2,367,524.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Walter Loewenbaum II sold 41,056 shares of the business’s stock in a transaction on Monday, January 4th. The stock was sold at an average price of $20.53, for a total value of $842,879.68. Following the sale, the director now owns 788,583 shares in the company, valued at $16,189,608.99. The disclosure for this sale can be found here.

Other hedge funds have recently bought and sold shares of the company. Acadian Asset Management increased its stake in Luminex by 22.5% in the fourth quarter. Acadian Asset Management now owns 757,381 shares of the company’s stock worth $16,200,000 after buying an additional 139,061 shares during the last quarter. Russell Frank Co increased its stake in Luminex by 47.1% in the fourth quarter. Russell Frank Co now owns 238,775 shares of the company’s stock worth $5,167,000 after buying an additional 76,444 shares during the last quarter. Nationwide Fund Advisors increased its stake in Luminex by 259.4% in the fourth quarter. Nationwide Fund Advisors now owns 105,495 shares of the company’s stock worth $2,257,000 after buying an additional 76,140 shares during the last quarter. EQIS Capital Management increased its stake in Luminex by 883.5% in the fourth quarter. EQIS Capital Management now owns 46,942 shares of the company’s stock worth $1,004,000 after buying an additional 42,169 shares during the last quarter. Finally, DIAM Co. Ltd. increased its stake in Luminex by 32.2% in the fourth quarter. DIAM Co. Ltd. now owns 73,009 shares of the company’s stock worth $1,562,000 after buying an additional 17,785 shares during the last quarter.

The company has a 50 day moving average price of $20.35 and a 200-day moving average price of $19.31. The stock has a market cap of $848.73 million and a P/E ratio of 21.24.

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 (NASDAQ:LMNX) 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.

12 Month Chart for NASDAQ:LMNX

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