Published on 23 Mar 2021 on Zacks via Yahoo Finance

Strength Seen in Luminex (LMNX): Can Its 12.4% Jump Turn into More Strength?

Luminex (LMNX) shares soared 12.4% in the last trading session to close at $37.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.5% gain over the past four weeks.

Luminex witnessed a solid price appreciation following the announcement that the Italian diagnostics company, DiaSorin S.p.A., is set to acquire Luminex for a price of $37 per share or approximately $1.8 billion in an all-cash transaction. On the back of DiaSorin’s extensive and geographical reach, Luminex is likely to accelerate its technology and solutions’ presence outside the United States. In fact, backed by DiaSorin’s leadership position, the company will be able to generate additional and sustainable long-term growth.

Price and Consensus