LumiraDx Limited (NASDAQ: LMDX) stock jumped 3.64% on Friday to $1.71 against a previous-day closing price of $1.65. With 1.07 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.45 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $1.7400 whereas the lowest price it dropped to was $1.6400. The 52-week range on LMDX shows that it touched its highest point at $11.09 and its lowest point at $1.30 during that stretch. It currently has a 1-year price target of $7.62.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LMDX was up-trending over the past week, with a rise of 13.25%, but this was down by -43.93% over a month. Three-month performance dropped to -59.57% while six-month performance fell -80.92%. The stock lost -82.64% in the past year, while it has lost -80.81% so far this year. A look at the trailing 12-month EPS for LMDX yields -2.22 with Next year EPS estimates of -0.70. For the next quarter, that number is -0.26. This implies an EPS growth rate of 33.00% for this year and 31.00% for next year.
Float and Shares Shorts:
At present, 253.07 million LMDX shares are outstanding with a float of 95.17 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.26 million, which was 0.10% higher than short shares on Jun 14, 2022. In addition to Mr. Ron Zwanziger as the firm’s Co-Founder, Chairman & CEO, Dr. David Scott Ph.D. serves as its Co-Founder, CTO & Director.
Through their ownership of 8.63% of LMDX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.44% of LMDX, in contrast to 0.03% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in LMDX with 4.44% of the stake, Bill & Melinda Gates Foundation T holds 5,574,059 shares worth 5,574,059. A second-largest stockholder of LMDX, Senvest Management LLC, holds 2,705,035 shares, controlling over 2.15% of the firm’s shares. Account Management LLC is the third largest shareholder in LMDX, holding 250,773 shares or 0.20% stake.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LMDX since 4 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LMDX analysts setting a high price target of $12.00 and a low target of $4.50, the average target price over the next 12 months is $7.63. Based on these targets, LMDX could surge 601.75% to reach the target high and rise by 163.16% to reach the target low. Reaching the average price target will result in a growth of 346.2% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LMDX will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of -$0.72 being high and -$1.03 being low. For LMDX, this leads to a yearly average estimate of -$0.87. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. LumiraDx Limited surprised analysts by -$0.08 when it reported -$0.13 EPS against a consensus estimate of -$0.05. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.23 and the low estimate is -$0.28. The average estimate for the next quarter is thus -$0.25.