Financial Reports are Key to Consider: Luminex Corporation (NASDAQ: LMNX)

On Wednesday, Luminex Corporation (NASDAQ: LMNX) shares price traded between $33.15 and $34.49 during the last trading session downbeat with -0.68% at $33.40. The shares recorded a trading volume 398,261 million shares as compared to its average volume of 347,319 shares. The company has 44.45M shares outstanding and market value of 1.485B. Over the one year trading period, the stock has a peak price of $34.49 and its down is recorded at $18.62. The short ratio in the (Ticker) stock is 3.97 and the short float is around of 4.77%.

Luminex Corporation (NASDAQ: LMNX) recently reported financial results for the first quarter of 2018.  Financial and operating highlights for the quarter include:

First quarter 2018 consolidated revenue was $82.7M, a raise of 6% contrast to the first quarter 2017.

First quarter 2018 GAAP net income was $13.4M, or $0.30 per diluted share, growth of 45% and 43% respectively, over the previous year quarter.

Assay revenue was $45.8M for the quarter ended March 31, 2018, representing a 23% increase over assay revenue for the first quarter 2017.

Total sample-to-answer molecular product revenue for the first quarter of 2018 was $16.5M, representing growth of 49% contrast to $11.1M in the first quarter of 2017.

Placed 60 sample-to-answer molecular systems under contract during the first quarter of 2018, contrast to 34 in the first quarter of 2017. Total active sample-to-answer consumers are now just under 500.

Growth in sample-to-answer utilization per consumer to $105,000 and $51,000 for VERIGENE and ARIES®, respectively, from $90,000 and $33,000 in the previous year quarter.

218 multiplexing analyzers were shipped during the quarter; including a combination of MAGPIX® systems, LX systems, and FLEXMAP 3D® systems. This compares to 242 multiplexing analyzers shipped in the previousyear quarter.

President and Chief Executive Officer of Luminex , Homi Shamir stated that they are very happy with how the company started the year with strong performance in Molecular Diagnostics Franchise — and more specifically sample to answer portfolio, which grew by nearly 50%”. He also added “We are very excited about our current product pipeline, which we believe will re-position Luminex at the forefront of innovation in our industry.   We also believe we are on track to deliver on our commitment of generating a run-rate of $100M of sample-to-answer revenue in the 4th quarter of 2019.  Our diversified business model is driving meaningful growth and we remain committed to investing wisely in the development of our product pipeline across our entire business.”

Luminex Corporation’s (LMNX) price volatility for a month noted as 2.55% however its price volatility for a week documented as 3.18%. The corporation holds 43.40 million outstanding shares and its 42.29 million shares were floated in the market. The stock established a positive trend of 7.71% in last week and indicated rise of 10.12% in previous month.

Paul Suggs

Paul Suggs provides the U.S. as well as global markets news for Streetobserver.com. He writes about the global market, politics, technology and healthcare news. He also covers latest activity, events and trends, economic reports and financial indicators relating to global market and US market. Paul now lives in Dallas Texas where he works from home as a freelance writer for many financial websites and publications.

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