Luminex Corporation (LMNX - Free Report) has rallied 10.9% over the last three months, ahead of the S&P 500’s 4.8% gain and also better than the broader industry’s rise of 4.6%. The stock has a market cap of $937.5 million.The company’s current-year historical growth rate is also favorable at 53.1% as compared with 22.7% of the S&P 500 index and 17.6% of the broader industry.
With solid prospects, this Zacks Rank #1 (Strong Buy) stock is an attractive pick at present.
Let’s find out whether the recent positive trend is a sustainable one.
The company’s estimate revision trend for the current year has also been positive. In the past 30 days, four analysts moved north, while one moved in the opposite direction. The magnitude of estimate revision increased around 22.5% to 49 cents per share. The company also has a stellar average return of 87.9% for the last four quarters.
Luminex exited the third quarter on a solid note. The company reported earnings of 19 cents per share in the third quarter of 2017 increased 216.7% year over year. Revenues in the quarter rose almost 4.1% year over year. The company’s third quarter saw solid cash flow as well as profits. Further, the expansion in operating margin buoys optimism. Also, Luminex’s reiterated 2017 annual revenue guidance is encouraging.
The company also witnessed favorable tidings at the regulatory front recently. In this regard,Luminex announced the receipt of FDA clearance for the ARIES Group A Strep Assay. This is a moderate complexity, sample-to-answer test for the direct detection of Streptococcus pyogenes from throat swab specimen using the ARIES System.
Other Key Picks
Other top-ranked medical stocks are PetMed Express, Inc. (PETS - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Myriad Genetics, Inc. (MYGN - Free Report) . Notably, PetMed, Align Technology and Myriad Genetics sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
PetMed has a long-term expected earnings growth rate of 10%. The stock has rallied roughly 71.8% over the last year.
Align Technology has a long-term expected earnings growth rate of 28.9%. The stock has gained 170.1% in the last year.
Myriad Genetics has a long-term expected earnings growth rate of 15%. The stock has gained 87.1% in the last year.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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