LumiraDx (NASDAQ:LMDX) Stock Rating Reaffirmed by BTIG Research

LumiraDx (NASDAQ:LMDXGet Rating)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a report issued on Friday, TipRanks reports. They presently have a $8.00 target price on the stock. BTIG Research’s price objective suggests a potential upside of 106.19% from the stock’s previous close.

Several other research analysts also recently commented on the company. Raymond James cut their target price on LumiraDx from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. LADENBURG THALM/SH SH dropped their price target on LumiraDx from $15.25 to $14.00 in a research report on Thursday. Finally, Zacks Investment Research upgraded LumiraDx from a “sell” rating to a “hold” rating in a research report on Wednesday.

NASDAQ LMDX traded up $0.03 during trading hours on Friday, hitting $3.88. The company had a trading volume of 26,181 shares, compared to its average volume of 66,049. LumiraDx has a 52 week low of $3.46 and a 52 week high of $11.09. The firm has a 50 day simple moving average of $5.63 and a 200 day simple moving average of $7.72. The company has a quick ratio of 1.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.85.

LumiraDx (NASDAQ:LMDXGet Rating) last issued its earnings results on Thursday, March 10th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $118.25 million during the quarter, compared to analyst estimates of $119.00 million. Research analysts anticipate that LumiraDx will post -0.65 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of LMDX. Geode Capital Management LLC bought a new stake in shares of LumiraDx during the 3rd quarter valued at about $205,000. Senvest Management LLC bought a new stake in LumiraDx in the 3rd quarter worth approximately $7,571,000. Granby Capital Management LLC bought a new stake in LumiraDx in the 3rd quarter worth approximately $414,000. Caas Capital Management LP bought a new stake in LumiraDx in the 3rd quarter worth approximately $423,000. Finally, Ionic Capital Management LLC bought a new stake in LumiraDx in the 3rd quarter worth approximately $783,000.

About LumiraDx (Get Rating)

LumiraDx Limited operates as a point of care diagnostic company. It focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. The company was formerly known as Point of Care Testing Limited and changed its name to LumiraDx Ltd in January 2018.

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