BTIG analyst Sung Ji Nam maintained a Buy rating on Luminex (NASDAQ: LMNX) yesterday and set a price target of $26. The company’s shares closed yesterday at $24.28, close to its 52-week high of $24.73.
Ji Nam noted:
“Severe Flu Season, As Well As and raising PT to $26 from $24: 1Q18 results beat consensus on both the top and bottom lines, with significantly better MDx performance vs. our estimates more than offsetting LTG system and consumable sales that were lighter than our expectations. Notably, strength in MDx was broad-based, including +49% growth for automated products (including 30+% growth for blood culture and enteric panels, almost tripling of ARIES sales) and +13% growth for non-automated products. Full year revenue guidance (LSD growth or HSD growth ex- NuSwab) was reiterated, with management expecting LTG system sales to be in-line or higher vs. last year, and higher LTG consumable sales in 2H based on order timing.”
According to TipRanks.com, Nam is a 2-star analyst with an average return of 0.3% and a 63.2% success rate. Nam covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, Myriad Genetics, and Thermo Fisher.
Luminex has an analyst consensus of Moderate Buy, with a price target consensus of $24.
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Luminex’s market cap is currently $1.05B and has a P/E ratio of 36.24. The company has a Price to Book ratio of 2.41.
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Luminex Corp. develops, manufactures and markets proprietary biological testing technologies and products with applications throughout the life sciences and diagnostics industries. The company was founded by Mark B. Chandler and Van S. Chandler in May 1995 and is headquartered in Austin, TX.
