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Luminex Well Poised on Pipeline Strength, Strategic Tie-Ups
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On Jun 24, we issued an updated research report on Austin-based Luminex Corp – a manufacturer and marketer of proprietary biological testing technologies with applications throughout the life sciences and diagnostics industry. The company currently carries a Zacks Rank #2 (Buy).
Over the last 60 days, the Zacks Consensus Estimate for full-year 2016 earnings moved up by 23 cents (39.6%) to 81 cents per share, as most analysts revised their estimates upward.
After posting a strong first quarter of 2016, Luminex is now expected to benefit from its ARIES System and the NxTAG Respiratory Pathogen Panel expansion plans. We believe these products will serve as a major growth driver over the long term by accelerating organic growth and expanding market share for the company.
Other factors that are likely to propel growth are the strength in the Molecular Diagnostic Business, collaborative agreements with the likes of Merck KGaA, Bio-Techne Corp and Affymetrix, and a solid financial position with no debt and significant cash flow. Meanwhile, the agreements are expected to boost the uptake of the company’s products globally.
Notably, the company generated first-quarter revenues of $63 million, up 9% from a year ago. The upside was driven by higher system sales and strong performance by the company’s assay product portfolio. The company posted adjusted earnings of 27 cents per share in the first quarter, which beat the Zacks Consensus Estimate by 14 cents.
However, on the flip side, reduction in ‘Medicare reimbursement Rate’ in the molecular diagnostic market, cut-throat competition in the respiratory space, lower purchasing level of Luminex’s largest ‘bulk purchasing partners’, optimum inventory management and other macroeconomic headwinds are denting the company’s consumable sales and revenues.
Other Stocks to Consider
Other favorably ranked stocks in the same space include Cryolife Inc , IRadimed Corp (IRMD - Free Report) and Masimo Corporation (MASI - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
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Luminex Well Poised on Pipeline Strength, Strategic Tie-Ups
On Jun 24, we issued an updated research report on Austin-based Luminex Corp – a manufacturer and marketer of proprietary biological testing technologies with applications throughout the life sciences and diagnostics industry. The company currently carries a Zacks Rank #2 (Buy).
Over the last 60 days, the Zacks Consensus Estimate for full-year 2016 earnings moved up by 23 cents (39.6%) to 81 cents per share, as most analysts revised their estimates upward.
After posting a strong first quarter of 2016, Luminex is now expected to benefit from its ARIES System and the NxTAG Respiratory Pathogen Panel expansion plans. We believe these products will serve as a major growth driver over the long term by accelerating organic growth and expanding market share for the company.
Other factors that are likely to propel growth are the strength in the Molecular Diagnostic Business, collaborative agreements with the likes of Merck KGaA, Bio-Techne Corp and Affymetrix, and a solid financial position with no debt and significant cash flow. Meanwhile, the agreements are expected to boost the uptake of the company’s products globally.
Notably, the company generated first-quarter revenues of $63 million, up 9% from a year ago. The upside was driven by higher system sales and strong performance by the company’s assay product portfolio. The company posted adjusted earnings of 27 cents per share in the first quarter, which beat the Zacks Consensus Estimate by 14 cents.
However, on the flip side, reduction in ‘Medicare reimbursement Rate’ in the molecular diagnostic market, cut-throat competition in the respiratory space, lower purchasing level of Luminex’s largest ‘bulk purchasing partners’, optimum inventory management and other macroeconomic headwinds are denting the company’s consumable sales and revenues.
Other Stocks to Consider
Other favorably ranked stocks in the same space include Cryolife Inc , IRadimed Corp (IRMD - Free Report) and Masimo Corporation (MASI - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>