), a developer of biological testing technologies, has
accomplished a major milestone with the shipment of its 10,000th
multiplexing instrument. The company has shipped its 10,000th
Magpix instrument to the Rhode Island Hospital, which will be
used for assay validation of Luminex's xTAG Gastrointestinal
Pathogen Panel (GPP).
The popularity and success of Luminex's instruments
demonstrate the company's ability to develop world-class
offerings. The open architecture and flexibility of the xMAP
technology allows Luminex's research partners to build assays as
per their convenience.
Luminex' revenues grew 9% in the last reported quarter,
partially led by higher shipment of multiplexing analyzers,
reflecting strong demand for Luminex products. The company
shipped 205 multiplexing analyzers during the first quarter,
resulting in total life-to-date dispatches of 9,865 analyzers, up
11% year over year.
Luminex possesses an extensive product portfolio and a healthy
pipeline of novel assays, which are expected to support growth
going ahead. Moreover, Luminex is developing innovative platforms
by combining resources from its latest acquisitions. The
company's initiative to establish a direct sales force for its
molecular diagnostics customers will likely improve operating
However, Luminex operates in a highly competitive life
sciences industry. Sluggish growth in its core markets as well as
the ongoing global austerity measures are challenges faced by the
company. In addition, the loss of its assay distributors is
affecting the bottom line.
The stock carries a Zacks Rank #3 (Hold). Medical instrument
companies, such as
) are expected to do well. All these stocks carry a Zacks Rank #2
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