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Luminex (LMNX) Gets FDA Clearance for ARIES GBS Assay
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Austin, TX based Luminex Corporation announced that it has received FDA clearance for the ARIES Group B Streptococcus (GBS) Assay for antepartum detection of GBS colonization. This is the third assay that the FDA has cleared for use on the Luminex ARIES Systems. The company has also achieved CE-IVD marking for the ARIES GBS Assay.
We note that Luminex over the past one year registered a return of almost 2.34%, lower than the Zacks categorized Medical Instruments sub-industry’s return of roughly 2.40% and in stark contrast to the S&P 500’s return of 16.97%. We are positive about the recent FDA Clearance for ARIES GBS Assay. Following the news release, shares of Luminex also witnessed an upside of 0.8% to close at $20.56 backed by encouraging market trends.
The estimate revision trend also seems quite favorable for the stock at this moment, with one estimate moving up in the last 60 days and no downward movement, indicating chances of a recovery ahead. Notably, the current year estimate for the stock stands at 53 cents per share.
The proprietary ARIES Systems helps molecular diagnostic systems and is designed to increase laboratory efficiency, ensure result accuracy, and fit into the laboratory environment. ARIES uses internal barcode scanning and other advanced features to minimize operator errors.
Luminex is making noteworthy progress with the ARIES system, which represents a major revenue opportunity. The company is focused on fortifying its market leadership in infectious disease with its sample to answer platform –– the ARIES system. Per management, Luminex is the only company that provides solutions to both targeted and syndromic testing in a lab.
Our Take
On the Aries platform, Luminex submitted the Group B Strep assay to the FDA in the last reported quarter. Notably, this will be the third IVD-cleared assay on the Aries system fortifying the company’s foothold in the market.
Apart from the lucrative assay portfolio, Luminex’s collaboration with Nanosphere in the recent past is a significant growth driver. Particularly, the Verigene System of Nanosphere is likely to enhance Luminex’s growth trajectory in the coming quarters, in our view.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 49.4%.
Cogentix Medical has posted a positive earnings surprise of 100% in the last reported quarter. Additionally, the company has a promising one-year return of almost 75.8%.
Penumbra has a long-term expected earnings growth rate of approximately 20%. Notably, the stock registered an impressive one-year return of roughly 19.5%.
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Luminex (LMNX) Gets FDA Clearance for ARIES GBS Assay
Austin, TX based Luminex Corporation announced that it has received FDA clearance for the ARIES Group B Streptococcus (GBS) Assay for antepartum detection of GBS colonization. This is the third assay that the FDA has cleared for use on the Luminex ARIES Systems. The company has also achieved CE-IVD marking for the ARIES GBS Assay.
We note that Luminex over the past one year registered a return of almost 2.34%, lower than the Zacks categorized Medical Instruments sub-industry’s return of roughly 2.40% and in stark contrast to the S&P 500’s return of 16.97%. We are positive about the recent FDA Clearance for ARIES GBS Assay. Following the news release, shares of Luminex also witnessed an upside of 0.8% to close at $20.56 backed by encouraging market trends.
The estimate revision trend also seems quite favorable for the stock at this moment, with one estimate moving up in the last 60 days and no downward movement, indicating chances of a recovery ahead. Notably, the current year estimate for the stock stands at 53 cents per share.
The proprietary ARIES Systems helps molecular diagnostic systems and is designed to increase laboratory efficiency, ensure result accuracy, and fit into the laboratory environment. ARIES uses internal barcode scanning and other advanced features to minimize operator errors.
Luminex is making noteworthy progress with the ARIES system, which represents a major revenue opportunity. The company is focused on fortifying its market leadership in infectious disease with its sample to answer platform –– the ARIES system. Per management, Luminex is the only company that provides solutions to both targeted and syndromic testing in a lab.
Our Take
On the Aries platform, Luminex submitted the Group B Strep assay to the FDA in the last reported quarter. Notably, this will be the third IVD-cleared assay on the Aries system fortifying the company’s foothold in the market.
Apart from the lucrative assay portfolio, Luminex’s collaboration with Nanosphere in the recent past is a significant growth driver. Particularly, the Verigene System of Nanosphere is likely to enhance Luminex’s growth trajectory in the coming quarters, in our view.
Zacks Rank & Key Picks
Currently, Luminex has a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , Cogentix Medical, Inc. (CGNT - Free Report) and Penumbra Inc. (PEN - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 49.4%.
Cogentix Medical has posted a positive earnings surprise of 100% in the last reported quarter. Additionally, the company has a promising one-year return of almost 75.8%.
Penumbra has a long-term expected earnings growth rate of approximately 20%. Notably, the stock registered an impressive one-year return of roughly 19.5%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>