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LumiraDx Limited (NASDAQ: LMDX): Stock Investors Should Also Pay Attention To This Stock

During the last session, LumiraDx Limited (NASDAQ:LMDX)’s traded shares were 1.07 million. At the end of the trading day, the stock’s price was $1.71, reflecting an intraday gain of 3.64% or $0.06. The 52-week high for the LMDX share is $11.09, that puts it down -548.54 from that peak though still a striking 23.98% gain since the share price plummeted to a 52-week low of $1.30. The company’s market capitalization is $338.53M, and the average intraday trading volume over the past 10 days was 2.17 million shares, and the average trade volume was 445.94K shares over the past three months.

LumiraDx Limited (LMDX) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. LMDX has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.26.

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LumiraDx Limited (NASDAQ:LMDX) trade information

LumiraDx Limited (LMDX) registered a 3.64% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.64% in intraday trading to $1.71 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 13.25%, and it has moved by -43.93% in 30 days. Based on these gigs, the overall price performance for the year is -82.64%. The short interest in LumiraDx Limited (NASDAQ:LMDX) is 0.26 million shares and it means that shorts have 2.45 day(s) to cover.

The consensus price target of analysts on Wall Street is $7.63, which implies an increase of 77.59% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.50 and $12.00 respectively. As a result, LMDX is trading at a discount of -601.75% off the target high and -163.16% off the low.

LumiraDx Limited (LMDX) estimates and forecasts

Statistics show that LumiraDx Limited has underperformed its competitors in share price, compared to the industry in which it operates. LumiraDx Limited (LMDX) shares have gone down -80.92% during the last six months, with a year-to-date growth rate less than the industry average at -47.06% against 0.50. In the rating firms’ projections, revenue will decrease -33.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $53.09 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $48.02 million by the end of Sep 2022.

While earnings are projected to return 33.00% in 2022.

LMDX Dividends

LumiraDx Limited is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

LumiraDx Limited (NASDAQ:LMDX)’s Major holders

LumiraDx Limited insiders own 56.46% of total outstanding shares while institutional holders control 8.63%, with the float percentage being 19.82%. Bill & Melinda Gates Foundation is the largest shareholder of the company, while 30 institutions own stock in it. As of Mar 30, 2022, the company held over 5.57 million shares (or 12.32% of all shares), a total value of $33.44 million in shares.

The next largest institutional holding, with 5.53 million shares, is of Cvs Health Corp’s that is approximately 12.23% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $33.19 million.

Also, the Mutual Funds coming in first place with the largest holdings of LumiraDx Limited (LMDX) shares are Fidelity NASDAQ Composite Index Fund and ETF Series Solutions-Defiance Next Gen SPAC Derived ETF. Data provided on May 30, 2022 indicates that Fidelity NASDAQ Composite Index Fund owns about 24829.0 shares. This amounts to just over 0.05 percent of the company’s overall shares, with a $92363.0 market value. The same data shows that the other fund manager holds slightly less at 2395.0, or about 0.01% of the stock, which is worth about $14370.0.

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