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Luminex's (LMNX) Preliminary Q4 Results Cheer Investors

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Luminex Corporation (LMNX - Free Report) recently announced preliminary results for fourth-quarter 2018, wherein the top line surpassed the Zacks Consensus Estimate.

Revenues are anticipated to total $81 million, way above the Zacks Consensus Estimate of $77.9 million.

The company is scheduled to release full financial results on Feb 4.

Happy Investors

Luminex’s fourth-quarter preliminary results seem to impress investors. The Zacks Rank #3 (Hold) stock rose 2.2% to $24.24 at close after the release of the results. If the company manages to outpace the Zacks Consensus Estimate in the fourth quarter, it will mark the first beat since the last reported quarter.

Over the past year, the stock has rallied 16.8% compared with the industry’s 0.4% rise. The current level also compares favorably with the S&P 500 index’s 7.1% decline.

Luminex Corporation Price and Consensus

 

Luminex Corporation Price and Consensus | Luminex Corporation Quote

Highlights

Total Licensed Technologies Group revenues grew 23% year over year to more than $41 million. Total MDx revenues of approximately $39 million declined 11% year over year. Excluding the departure of LabCorp, total MDx revenues increased by approximately 21% year over year.

Full-Year Results

On a full-year basis, Luminex expects revenues to exceed $315 million, near the high end of the previous guidance of $310-$316 million. Notably, the figure comes above the Zacks Consensus Estimate of $312.6 million.

Per management, total Licensed Technologies Group revenues of $149 million grew 5% year over year. Total MDx revenues of approximately $164 million inched up 1% year over year. Excluding the departure of LabCorp, total MDx revenues were up approximately 13% on a year-over-year basis.

Guidance

For 2019, Luminex expects revenues within $337-$343 million. The Zacks Consensus Estimate is pegged at $332.5 million, below the guided range.

Notably, the guidance includes contributions from the flow cytometry business purchased from MilliporeSigma.

Key Picks

A few better-ranked stocks in the broader medical space are Veeva Systems Inc (VEEV - Free Report) , Penumbra, Inc. (PEN - Free Report) and OPKO Health, Inc (OPK - Free Report) . While, Veeva Systems and OPKO Health sport a Zacks Rank #1 (Strong Buy), Penumbra carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Veeva Systems’ long-term earnings growth rate is projected at 19.5%.

Penumbra has a long-term earnings growth rate of 20%.

OPKO Health’s long-term earnings growth rate is projected at 12%.

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